Liveable, loveable - and built for business

AU Financial Review

15-05-2025

Born in Melbourne, the son of Sicilian migrants, Elio Guarnuccio founded the Centre of Italian Studies back in 1979. The first language course he co-wrote, Avanti!, forever changed the way languages are taught and language textbooks designed in Australia.
Being based in Carlton for more than 46 years – famous for its authentic Italian restaurants, cafés and shops – ensures strong ties with local businesses to create a lively, supportive community around all things Italian.
Melbourne's vibrant, multicultural energy makes it the perfect home for a language school and publishing company, Guarnuccio says.
'We attract adult learners from across Melbourne and interstate, all seeking a rich and immersive experience,' he says. 'Our location, adjacent to the University of Melbourne and RMIT, also helps us attract international students.'
'Melbourne's multicultural nature, high number of overseas visitors and students, and spirit of innovation make it a highly attractive location to start and grow an innovative business. These qualities have been key to our success and continued expansion.'
Today, the City of Melbourne continues to attract entrepreneurs. Australia's first challenger bank, established in 2016 and solely dedicated to small and medium-size business lending, Judo Bank saw a Melbourne head office as a natural fit for its ambitions, says CEO and co-founder Chris Bayliss.
Today, Judo Bank has grown to a team of almost 550, with 159 relationship bankers across 26 locations nationally. Melbourne's reputation as a major financial centre, with a high concentration of innovative and entrepreneurial SMEs, made it a prime location to begin serving this vital segment of the economy, Bayliss says.
'Building a challenger bank is not easy, however, the access we had to a talent network in Melbourne, and the ability to recruit a founding team of banking experts who could bring our vision to life, was and continues to be critical to the success of Judo,' he says. 'I think it's the balance of innovation, culture and community we see in Melbourne, that attracts SMEs to establish and grow their businesses here.'
'It's often recognised as one of the world's most liveable cities, so it's not a surprise that the lifestyle benefits of Melbourne continue to attract exceptional talent who want to live and work in the city – we've certainly seen this at Judo.'
As innovative startups find their feet, they discover the City of Melbourne is a very affordable place to do business. Prime office space and industrial land is approximately 35 per cent cheaper than Sydney. Meanwhile, salaries are typically 5 to 10 per cent lower, with the nation's second-lowest metropolitan payroll tax rate at only 4.85 per cent.
The City of Melbourne's online commercial property lookup tool helps business owners find the perfect space for their operations. The free service provides detailed property reports and permits information, along with economic and demographic data to better inform businesses about where to set up shop.
The Invest Melbourne team at the city also supports new businesses every step of the way with a personalised business concierge service that helps small businesses start operating within a few months.
Having already assisted more than 180 new businesses, it is a one-stop-shop that cuts red tape and offers valuable connections for new and growing businesses.
The city's Investment and Commercial division is on hand to help medium to large enterprises get established, with the Invest Melbourne Landing Pad initiative providing new businesses with local connections and temporary workspaces as they get their start.