If you have an ambition to start your own startup company but you think you lack the confidence and skills to see it through then look no further than Startup Muster. Initiated partly by the $1.1 billion National Innovation and Science Agenda, Startup Muster is the countries biggest survey on startup endeavours, compiling insights of 1478 startup founders, 432 potential founders and 801 startup supporters. The 24 page survey conveniently breaks down the demography of startup companies and founders, in the hope to give a potential founder thinking of creating their own startup an idea of what they are getting themselves into and what skills they might need.
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Though there is a link provided to the actual survey, this article compiles some basic findings from the survey, which might give you some quick and easy tips and ideas. Good luck!
Who is starting startups?
The survey found that approximately 60% of startup founders were below 40 years of age, and more specifically people aged 35-40 consisted 20.5% of startup founders, the largest percentage of any age group. Furthermore, the survey found that there is more than double the amount of men than women who are startup founders, however the percentage of female startup founders is increasing rapidly each year, from 16.1% in 2014 to 23.5% in 2016. 66.8% of startup founders were born in Australia and 26.4% of founders required only a Bachelors degree, which was the highest percentage of any level of qualification.
What skills does one need?
There are some skills that seem more beneficial in endeavouring in a startup. The survey found that 58.5% of startup founders had experience in General Business Operations. Furthermore, the other crucial skills that startup founders acquired were Project Management, Customer Service, Marketing, Sales and Software Development. Experience in Legal and Scientific Research was not as important in starting a startup.
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Where are they working and what are they about?
The survey found that 77% of startups were within capital cities in Australia. It also discovered that they top industries that startups focused on were Fintech, Retail, Media, Internet of Things, Education, Marketing and Social Media. It was found that startups hired either 1 or 2 full or part-time workers. It discovered 47.5% of startups had no full-time female workers.
What about income?
The survey showed that up to 45.5% of startups received no revenue in the last 12 months before this survey was taken. 15.8% received up to $10 000 in revenue, 16% received up to $100 000 in revenue and 16.8% received up to $1M in revenue. The largest source of revenues was subscriptions totalling 36.4%. Some other large sources of revenues fro startups were Purchases Online, Transaction Fees and Service Billed by the Hour.
This is just a snippet of information of what the survey provides so make sure to click the link above and check it out! If you have anymore questions or queries about starting up your very own startup why not seek the advice of our friendly community in the forum section.
