Australia's next boom: Why young entrepreneurs need the same backing as first home buyers

MELBOURNE, Australia - Oct. 16, 2025 - PRLog -- Australia's Next Boom: Nanak Accountants Calls for Equal Support for Young Entrepreneurs and First Home Buyers

Nanak Accountants and Associates is urging policymakers to give young entrepreneurs the same level of government support that first home buyers currently enjoy - a step Principal Accountant Puneet Singh says is vital for building "A Future Made in Australia."

In an article published in Accounting Times, Singh writes that while governments have waived stamp duties and underwritten deposits to boost home ownership, entrepreneurs face steep taxes, red tape, and startup barriers. "If policymakers can waive stamp duties and underwrite deposits, they can also slash taxes and red tape for entrepreneurs," he argues.

Singh highlights that the First Home Guarantee scheme has helped over 185,000 Australians buy homes with just a 5% deposit, but equivalent programs for startups are limited in scale and visibility. "Every dollar a young Aussie sinks into a house deposit is capital not going into a new enterprise," he says. "Home ownership builds security but business ownership builds jobs and prosperity."

To close this policy gap, Nanak Accountants proposes innovation and enterprise zones areas offering temporary tax holidays, reduced compliance, and faster approvals to attract new businesses. Singh notes that such zones have successfully spurred growth in other countries and could do the same for Australia.

He also calls for greater entrepreneurship education, mentorship, and early-stage funding, ensuring that first-time founders receive the same encouragement as first home buyers. "If we can celebrate someone buying their first home, we should equally celebrate someone opening their first business," Singh adds.

Nanak Accountants and Associates continues to advocate for balanced policies that promote both home ownership and innovation. Singh concludes, "Supporting a generation of job creators is just as vital as supporting a generation of homeowners. A Future Made in Australia depends on both."

About Nanak Accountants and Associates
Nanak Accountants and Associates is a Melbourne-based accounting and advisory firm specializing in small business growth, tax planning, and financial strategy. Led by Principal Accountant Puneet Singh, the firm is committed to helping entrepreneurs, professionals, and families achieve long-term financial success.

Read the full article on Accounting Times: https://www.accountingtimes.com.au/economy/australia-s-ne...

Visit : https://nanakaccountants.com.au