Now there’s an interesting business called PEXA. Can you tell me firstly, who they are and what they’ve achieved lately?
Yeah, well, look, it’s a it’s a great Australian success story. And you know, every great Australian business started as a small business and PEXA is is no exception to that rule. So a bit over 10 years ago, you know, the governments of Australia and some entrepreneurs said, look, the way conveyancing happens and settlement when people are buying properties and getting mortgages and things, it’s all paper based, it takes a lot of time, there’s a lot of uncertainty, surely, technology could be used.
And so the founders of PEXA literally created the first electronic platform for doing that in the world. So not only is it a world first, now, here in Australia, you know, 80% of these types of transactions take place. And so PEXA stands for Property Exchange of Australia. And last week was the culmination of, you know, 10 years of very hard work. It’s now a public company listed on the Australian Stock Exchange.
And one of the great things that PEXA is doing is it wants to help other people that want to also transform anything to do with property. So they’ve created something called PX Ventures. And if you’ve got ideas, or you’ve built a product that you think would make any part of owning, buying living in, renting, improving a property, make it, make it easier for people to do it, help them save money, do it smarter, PX Ventures has got some services where they will work with those entrepreneurs to help those dreams come true. So it’s great to see what was a small business become a big business in Australia and to say to the other innovators and entrepreneurs, you want to do something in property, come and talk to PX Ventures, which is over at www.pxventures.com.au. Because we want to help you make make your dreams come true.
I love hearing about stories like that. And I’m so glad we finished our conversation on that positive note. Bill Lang from small business Australia. We’re always great to see you.