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Ultimate Guide to Doing Business in Australia
1. The ultimate guide for doing business in Australia Jeanette Reyes, Rosa Mercado, Chloe Jubecourt, Clemency Rusek, James Frontera, Derrick Trees, Roman Feygenberg
2. G’Day! Government Economy Country Attractiveness Profitable Industries Cultural Dimensions Etiquette Do’s & Don’ts Recommendations Picture background
3. Introduction The time is now! Few barriers to entry We share a familiar legal and corporate framework Sophisticated consumer and industrial demands Straightforward business culture much like we’re used to here Picture background
4. Government Constitutional Monarchy Written constitution Liberal Democratic Common law Efficient and transparent legal framework Picture background
6. Political Parties Picture background Liberal Party of Australia National Party of Australia Australian Labor Party (ALP) Australian Green Picture background
10. Economy $1.22 trillion GDP in 2010 Higher GDP/capita than US, UK, Germany & France 17 years of continuous growth ≈75% of GDP is in the service industry Picture background
14. Picture background Exports Picture background Mostly “primary products” Mining Agriculture Major Buyers China, Japan, South Korea, India, US “primary product” Export Market Development Grant (July, 2010) Picture background
15. Setting-up shop Franchising is very successful 14.8% of overall GDP Must “ Australianize” to suit local market. Picture background Picture background
34. Costs Least costly countries in the industrialized world to base a business (4th) Cost of office space in Australia is the lowest in the developed region comparatively low energy costs (10th for oil) Workforce is one of the most highly skilled and multilingual in the world (lower wages) General Taxation is High (47.9% ranks 48th)
63. Financial Services Strategicgeographic position Recognized as having the 3d best regulation of securities exchanges. The 4th soundestbanking system in the world Companystrategy: licensing
65. Clean Energy Industry Population awareness of the importance of clean energy. A vastposibility of clean energy: Bio-energy Carbon capture and storage Geothermal Solar Wave and Tidal Wind Companystrategy: joint-venture or acquisition
67. Agriculture Industry Already a mature industry Opportunities in the organicfarming to relaunch the industrygrowth Nation’s top growthindustry in 2011 Over the last 5 yearsdemandisgrowingreallyfast. Companyindustry: exportation, acquisition, greenfield
69. Hofstede’s Dimensions & Trompenaar’s Dimensions Power Distance Individualism vs. Collectivism Uncertainty Avoidance Masculine vs. Feminine Time Orientation Quotes….
70. More Cultural Dimensions Learned Needs Theory -> Motivation nAff nPow Leadership Theories & Values Charisma Values
71. Being a “mate” Relationship and future business dealings Quotes…. Quotes….
78. DO’s DON’Ts Shake hands quickly and firmly. Remain at an arm’s length when conversing. Take in Australia’s diverse culture. Bring a gift if invited to someone’s home. Be direct and to the point when talking business. Talk about the weather and sports in Australia. Shake with both hands or keep shaking. Break eye contact with the speaker. Go around saying: G’day, mate. Bring a gift for business meetings or dinners. Speak evasively and have long introductions. Talk about anything that is critical of Australia.
79. DON’Ts DO’s Schedule appointments with executive’s personal assistants. Be patient with Australia’s casual attitude towards time. Give facts, details, downsides, & benefits during negotiations. Be modest and casual during negotiations. Try Australia’s multicultural cuisine. Insist on speaking to the executive directly to schedule. Be late yourself. Use aggressive sales techniques or try to overtly impress. Be boastful or discuss your personal life. Don’t Eat Vegemite.
80. Recommendations for U.S. Firms Entering Australia Timing is everything Pick a product or service and stick with it Opportunity Conduct market research Locals Only Enjoy the journey! Picture background
Australian dollar/U.S Dollar is the fourth most traded currency pair globally.6th most traded overall.Banks are ranked 12th in the world in terms of financial security and AA rankings.Employment statistics
1.22 trillian dollar GDP @ official exchange rate.13th largest GDP in the worldHigher GDP per capita than US, UK, Germany & FranceCan be attributed to relatively small population, so take that statistic as you may.71% of GDP is within service industry, 24.8% industry, 4% agricultureIn America 76% services, 22% industry, 1.2% agriculture
GDP similar to Mexico & South Korea, but obviously bounds below America, Japan, others.
Imports from US:Reactors, boilers, vehicles – not railway, medical instruments, aircraft, spacecraft, precious stones, fertilizers.
MiningCoal, Iron ore, goldAgricultureWheat, barley, sugarcane, fruits, sheep, poultry10th largest exporter of natural gas right behind USMajor BuyersChina 17.5% growing quicklyJapan 22.8%South Korea 8.3%US 5%Export Market Development GrantThe Export Finance & Insurance Commission assists Australian business that export goods or services with mainly Australian content
more franchising outlets per capita than any country in the world, and three times more per capita than in the U.S. Contributes to 14.8% GDPRetail industry is most successfulMust australianizeFast food restaurants tripled in the ’90s.
more franchising outlets per capita than any country in the world, and three times more per capita than in the U.S. Contributes to 14.8% GDPRetail industry is most successfulMust australianizeFast food restaurants tripled in the ’90s.
Auto Parts 600 cars per 1000 people in Australia, third highest in the world.Construction Machinery no duty fees from US (AUSFTA)Medical Equipment every major US medical company has a subsidiary in Australia.Renewable Energystregnth in solar power for isolated communities
Indonesia, Malaysia, The Philippines, Singapore, Thailand, Brunei, Burma (Myanmar), Cambodia, Laos, Vietnam, and New Zealand
Miningisstill a profitable industrybecause of the important exportation, but the major problemisthatthisindustryis not sustainable (diminution of ressources)Agriculture is for nowstill profitable because of australian good climateFinancial services: 4th sector in Australia’seconomy, and ideallypositionedat the center of asia-pacificregion.Clean energy: profitable because of the eco-friendlywave. Austrliancompanies or investing in order to improve and develop clean energy.
