Analysis Of Australi Engines For Economic Growth

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Tyler Strunk Australia: Engines for Economic Growth Australia is a large and diverse country and this diversity is reflected in the different types of reception businesses receive within their borders. Australia has both private and government owned businesses. The term government owned business is often interchangeable with the term SOE (State ownership enterprise). In Australia, these SOEs provide public goods such as in the case of national defense and merit goods like public health and education (PwC, 2015, p. 14). In addition, they provide necessary societal needs, such as in the case of Snowy Hydro throughout Australia and SA Water in South Australia, by providing electricity and water to the country. Government owned businesses…show more content…
The Herald states, "the survey found that consumers believe they're getting better value for money from their banking, insurance, mobile phone and internet service providers than from their electricity supplier. It also found that consumers are finding the barriers to switching providers too high, and that they feel there are no real alternatives" (Hatch, 2016). Private businesses aren't exempt from these complaint either, with the ACCC (Australian Competition & Consumer Commission) handling consumer issues in order to help ensure Australian markets stay fair for consumers but competitive for the economy (A.C. Commission, 2015). There are many factors that contribute to the success of businesses in Australia. Australia provides a safe, low-risk environment in which to do business, it is said that Australia's labor force is among the most skilled and diverse in the world. Australia has strong economic and cultural ties with the fast-growing Asia-Pacific region due to their close proximity and a shared time zone. It is also a benefiting factor to businesses that "the Australian Government promotes business investment in their country and international trade with Asia (Australian Trade and Investment Commission, 2017). In Australia, and especially in businesses owned by the indigenous population, success is not only measured by monetary gain. Whereas non-Indigenous

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