In early 1832, James settled at
Launceston which was the centre of the island's profitable wheat market and was also where James had already started investing in the local banks. He attempted to obtain a 20,000-acre land grant but discovered that the system of giving large parcels of land to aristocratic colonists had ceased, and had to be content with renting a rural estate for the agistment of the Henty family livestock. Despite James' problems in the Australian colonies, his father Thomas decided to emigrate from England with most of the remaining Henty family in order to join James. Continuing social unrest in Sussex such as the recent
Swing Riots of the labouring classes facilitated the decision to leave. In April 1832, James' parents arrived in Launceston with his other siblings including Frank and Edward. James, who by now was married, established a merchant business in Launceston with his brothers and father which was called the Henty Company. They traded in merino sheep, seal-skins and other merchandise, while also having a lucrative government contract shipping goods to the Swan River Colony. James' brothers Edward and Stephen on their voyages along the southern coast of Australia, saw an opportunity to set up a
sheep station at the whaling outpost of
Portland Bay. Their father, Thomas was impressed with the land when he visited and sent James to England in 1834 to negotiate with the royal government a grant of 20,000 acres on this uncolonised part of the southern coast of Australia. Although James was unsuccessful in securing a grant of land, he did manage to obtain an indication from
Lord Aberdeen that if the Hentys started the cultivation of the land in the Portland Bay region, it would be looked upon favourably by the British government. James returned to Launceston in October 1835 to find that Edward and Stephen had already gone to Portland Bay to establish a farm and whaling station without waiting for the permission of the British government. James stayed in Launceston and resumed his banking and merchant business concerns. In 1836 he was appointed as a director for the
Bank of Australasia and later managing director of the
South Australian Banking Company. He was able to provide funding to increase the Henty brothers' stake in the
whaling industry which resulted in the Hentys operating vessels that hunted whales from Portland to Western Australia. In addition, James also had founded his own trading company called James Henty & Company, which combined with his other property and business interests, made him a well-known and prosperous colonist by the late 1830s. ==Financial trouble and return to England==