From ESOP to financial disclosures: Australian founders have some advice for government
At SXSW Sydney, top Australian founders addressed regulatory barriers limiting global competitiveness and shared insights on successfully expanding into the US market.
Some of the biggest frustrations for Australian private companies operating globally stem from regulatory requirements that disadvantage them compared to overseas competitors, according to some of Australia’s most prominent founders.
These grievances were aired during a panel at SXSW Sydney, which aimed to offer advice to entrepreneurs looking to expand into the US. Though it had some handy tips on that front, some of the most direct advice was for the Australian government.
Culture Amp co-founder Doug English told the audience that one of the largest obstacles for Australian private companies is the burden of financial reporting requirements.
“We find the requirements to report financials incredibly frustrating, as it puts us at a massive disadvantage," said English. "I'd love to know the financials of my US competitors that are private. We can't get access to their information, but they can access ours."
