A BEC is the Australian version of a business advisor. I went to one quite far away from my house and it took 1.5 hours to get there during peak traffic. The place was pretty big with at least 2 stories high.
The business advisor said that my cryptocurrency business has potential because of its low initial startup costs and also the process of the service is easy to manage for one person when starting out. However, the business idea lacks automation when more customers want to invest into the business. The top things in which I need to prioritize are business insurance and break and even analysis. Another thing the business advisor said was that my initial advertising costs are not sufficient to bring in the targeted customer base. However, even if I could gather the customer base, I won't be able to handle the demand because I currently cannot hire any staff atm.
An interesting fact given by the advisor was that Australia's top 30 companies have been established many years ago. Some are as old as the 1800s (the 4 big banks). This means as a country, we completely suck when it comes to innovation and as a successful modern economy. Compare this to America which as fb, google, twitter etc. My goal is to change that.
