Business Opportunities in Australia
A shaft of optimism about Business opportunities in Australia 2023, has penetrated the landscape of economic discussion in Australia.
For too long, we have been fed a diet of pessimism about rising prices, especially energy prices. We are having a rancorous debate regarding our journey towards a carbon-free utopia. Its adherents claim Australia must do something before the entire world perishes.
The rationalists who wonder what will remain when Australia has paid the high costs of decarbonisation only to realise it makes a negligible difference to the world’s output of carbon.
Nearly daily, we hear alerts as to the ballooning costs of social programs such as the NDIS and the chronic state of the structure of the Federal Budget.
Our intentions are noble, and our aims are popular but we have not been attentive to the long-term sustainability of the benefits that we have grown so accustomed to.
Until now, a combination of high aspirations and low productivity has placed us on a dangerous path. Australia, being the great democracy that it is, has self-corrected most ambitiously.
We are embarking on a great renaissance. By cementing and making use of our alliances to help us overcome existential threats, we have placed ourselves on a path of opportunity and renewal.
Once we could foresee opportunities for our children in the hospitality and caring industries as a way of sharing in the wealth generated by our agricultural and mineral exporting sectors.
New Exciting Business Opportunities to Come
We now have a whole new industry that will emerge through the agreements struck between members of the inelegantly named AUKUS partnership. It will usher in a new era of hyper-investment in sophisticated and innovative technologies that will make use of the skills of a highly aspirational Australian population.
As we busily tear down the natural comparative advantage that is our energy sector, we will have something to replace it.
We can finally place the mythical energy superpower status we aspire to into the dustbin of history. The fallacy we are being sold whereby we will successfully compete with any country where the sun shines. That we don’t have to rely on our wealthy endowment of natural energy resources.
The essential ingredient to this is productivity. It will require two things. High levels of purposeful investment and the means to keep it all on track.
We have announced the investment part. Countless hundreds of millions of dollars in order to gain and maintain nuclear submarines and other lethal capabilities. The purpose is simple, to kill other submarines, boats, people and whatever is necessary for the defence of our country.
It is keeping it all on track that is the key to increasing our productivity and staying wealthy and, therefore, powerful.
The Anzac spirit, one of the most potent of Australian characteristics, will be the motor that drives the adaption and innovation that will be critical to our new endeavour. The vehicle for this will be business. Large and small. They are now imbued with an additional important purpose.
Cost of AUKUS plans to Australia
The nuclear submarine program, known as “AUKUS” will cost up to $368b in the future to the Australian nation. Find out more from the announcement made by the Australian Prime Minister, Anthony Albanese, on the 14th of March 2023.
What Does It Take to Succeed?
To deliver on the commitments we have made to be part of an alliance that only a democratic country can enter with any chance of success.
For Australia to make good on the commitments via the submarine agreements we are signing up to and to justify the cost, the productivity agenda will take centre stage. It must be because of the vast sums of investment at stake.
The national focus will inevitably shift to business because that is what will make good on what is quite a solemn promise. It has the best chance of maintaining broad support, which is clear by the bipartisan support the project is receiving in government.
Compare this to the partisan support that various arms of energy policy and climate change action receive.
We may finally enter a phase in the life of our country where our house is no longer divided. The potency of this is difficult to overstate.
In a world now starting to de-globalise and where political and trade walls are imminent, we have aligned ourselves with the most ruthlessly productive country in the world.
Increased productivity and the wealth that will bring have the potential to put an end to the hollowing out of the middle class that is so damaging to us. We now have a division of camps between the haves and the have-nots, and the difficulty of crossing from the latter to the former has never been so difficult.
Partly it has been driven by a national preoccupation with property being a pathway to wealth. The problem is that if we are all landlords, then we will have no tenants. Only if we confine a portion of the population to living in an itinerant world where a home has no tenure does this associated with it.
This is not a pathway to a wealthy and egalitarian country.
We have debated endlessly the causes and potential solutions, without resolution. Finally, the lucky country has come up with a way out. Let’s all become wealthy. Let’s do productive things and, most of all, let’s find a purpose that will drive it all. Self-preservation is a big purpose.
The way ahead is for the nimble, the astute, the diligent and the productive.
Those with an independent spirit and those who can collaborate. We are a nation of small businesses. While this is necessary, we will also have to become a nation of big business to fulfil the promises that we are making to ourselves and the faith our alliance partners are placing in us.
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