joel was born in north shields, in northern england, one of seven children of prussian-born trytle joel and his wife jane grace joel (née isaacs). his initial training was as an engraver. he formed a trading business with his brother, working mainly around the industrial cities of the north midlands. in 1853 he emigrated to australia, working as a gold buyer during the victoria gold rush in melbourne and ballarat. with the advent of the otago gold rush in 1861, he moved to dunedin, where he continued in business, opening a general merchant store and also became interested in local politics.