Business

Australia is a rich ad developed country. It is also strong from business side.Australia is the fourteenth-largest economy in the world and the fifth-largest economy in the 18-member APEC forum. The Australian economy is bigger in absolute size than all those in the region to our north except Japan, the Republic of Korea and China. It is larger than any economy in Latin America with the exception of Brazil. With economic growth in some developing East Asian economies likely to run well above the levels of growth of a mature Australian economy, some of these relativities will change over the next fifteen years, but not to the extent of challenging Australia's standing as a major regional economy.

Australia is a crucial supplier of industrial raw materials, energy and food to a number of important East Asian economies. It is among the world's most substantial commodity exporters, being the world's biggest exporter of coal, wool, aluminum, and lead, and the second or third-biggest exporter of iron ore, nickel, gold, meat, sugar and cotton. A further major economic asset is Australia's strong skills base sustained by quality educational and training institutions. This is an essential feature of the intellectual infrastructure of Australia and one that Australia needs to nurture and develop further. So too is expanding its research and development capability, which can increase productivity, Australia's ability to broaden its export base, and its capacity to attract foreign investment.

Agriculture in Australia a major industry, 402 000 people are employed in agriculture and agriculture related services, and agriculture accounts for approximately 3% of Australia's GDP. Until the late 1950s agriculture accounted for up to 80% of Australia's export earnings, that percentage has fallen with diversification of the economy. Australia produces a wide variety of crops and livestock, 80% of all agricultural production is exported. Australia is a vocal supporter of fair trade in agriculture and is a member of the Cairns Group. Supports/subsidisation to the Australian agricultural industries are very low, although relief is provided in 'exceptional circumstances' such as droughts. Challenges to the future of Australian agriculture include developing sustainable water management strategies for a drought prone environment, combating dryland salinity, and the decision to grow, or not to grow genetically modified foods

More than a million Australians work as independent contractors and sole traders, epitomizing the spirit of entrepreneurship that is fundamental to Australia's prosperity. Independent contractors might be owner-drivers, sole traders, building sub-contractors or cleaners - to name just a few. They work in areas as diverse as housing construction, home-based businesses, engineering, farming, transport, and information technology. They opt for the flexibility of hours, the freedom to move easily between workplaces and, frequently, the higher rates of pay. They choose to be independent contractors, not because there are no other options, but because they can work and achieve more than they could within the rigid structure of full-time permanent employment and industrial relations restrictions. This flexibility of working arrangements offers hundreds of thousands of Australian workers freedom of choice and, as such, is a vitally important feature of the Australian economy. Yet independent contracting is under attack from unions, Labor State governments and Labor Party policy. Labor seeks to give unions the right to frustrate the use of contractors and to drag contractors back into a rigid workplace relations system. The Coalition Government is determined to protect the rights of independent contractors. We will not allow union officials to strip these enterprising Australians of the right to choose how they live and work. A re-elected Coalition Government will not permit unions, industrial tribunals or State Labor governments to attack the freedoms of independent contractors.

Australia has done well out of the 'new economy'. Its use of computer technology is amongst the highest in the world with Australian business investment in computer and related equipment growing rapidly since the early 1990s. Computer use has not been uniform throughout the economy but concentrated in more service-oriented sectors such as telecommunications, and finance and insurance. Additionally, we find that around one-half of the gains from the use of information technology can be attributed to price falls while the other half can be attributed to higher nominal expenditure. We arrive at the conclusion that Australia has experienced significant output growth related to computer use and has benefited from the technological advances in the sector through lower prices passed on to users. Thus, we conclude that there are substantial benefits to be gained from being a net user of computers as well as the more commonly mentioned benefits from being a producer

Some businesses do take the future seriously. Many large organizations have been using sophisticated futures tools - such as computer modeling and scenario planning - for a very long time. Some leading executives also possess deep insight into the nature of the cultural/historical transition we are living through and are applying their understandings to the necessary reconceptualisation of business for a very different era. Yet these broadly progressive forces are very much in the minority. Most businesses in Australia are doggedly short-term. They are unaware of the shifting sands they are built upon or of the very real challenges of the early 21st century. The Invest Australia Supported Skills program (SSP) is designed to encourage international firms to choose Australia as a location for foreign direct investment. It allows foreign companies that make a significant investment in Australia to bring to Australia key expatriate managerial and specialist employees from within the company group who are essential to the establishment operations in Australi.

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