Research Project – Outcome
This report explores upon the concept of how to develop a successful small car business.
Small business in Australia: (1 paragraph)
Whilst the effective maintenance of small business is critical to the business owner it is also essential to Australia’s economy. Connolly et al(2012), states that small business plays significant role in Australia’s economy and accounts for almost half of the implement in the private sector. It also accounts for third of production. The most basic definition of small business is recognised by Fair Work Australia as complex that includes factors such as the number of employees and the annual revenue. It also categorises small business as having a loan principle under …show more content…
Car yard business: (1 paragraph)
Within Australia, majority of population will need vehicles as transportation. Therefore, many people purchased cars from licensed car dealerships, private owner, online or at an auction. According to Anglo (2013), most of the car dealership in Australia provides legal protection such applying warranty for 3 months. In additional to this, many car dealerships has the accurate documents and history of their vehicles, therefore it is far more reliable to purchase car from a car dealership. Recently, Rezek’s (2012) article states that over the past three to four years, the Australian used car businesses have experienced vital changes with its trading trends. The price of a vehicle is to a large extent determined by supply and demand. Whilst this information is true for the price of a vehicle, the profit of vehicles is to some extent determined by the buying. With the arrival of private sellers, both buying and selling has extremely become more challenging (Rezek, 2012). Many people believe that the internet has affected their profits however those that have used it have expressed a high level of success with it. This is because it provides greater opportunities to increase its customer base and promote its product. It can provide a cost effective form of marketing and means to access more customers. Others have stated that the cost of advertising per vehicle has risen
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Many people want to live the “American Dream”, and what better way to do that than to start a small business. Small businesses are incredibly important to the United States economy. Small businesses have been around from the beginning of the history of the U.S. and remain a large portion of the business community today. Small businesses are the driving force for job creation. Small businesses struggle to meet regulations set in place by the government and at the same time stay afloat in the U.S. economy. There are strict size standards set in place that make small business owners weary of expanding the amount of people they employ. Small business owners also struggle with offering healthcare to their employees. Small businesses try to stay ahead by introducing new and unique products. In an ever-changing economy, it is important to understand the impact of small businesses in the United States.
By scrutinizing this information, they could begin to comprehend the relationship between humans’ behavior and their purchasing trends. In addition, comparing CSI (customer service indexes) and perceived quality by industry sector, assists marketers as to why many existing Allstate customers who own motorcycles don’t insure them with Allstate. Money is a discriminating factor and insurance is often a function of income. Many motorcyclists who don’t finance their purchases may opt out of insurance altogether. Short term financial performance indicators are useful in evaluating relative price metrics by formulating the market share participants in relation to market share value.
Affordable vehicles aims to provide vehicles of various kinds, ranging from small cars, vans, utes, suv and some luxury cars. There is a need in Brisbane for a large selection of quality used cars, and Affordable vehicles will sell these top-quality used vehicles at a competitive price. The sales manager has over 9 years of experience in new and used auto sales. I will continue to develop the excellent working relationship with local dealers and auctions to bring the savings to the customer.
Small businesses are independently owned, for profit businesses which employees no more than 500 employees and are not dominant in its competitive area. Small Businesses are critical for the US economy because more than 99 percent of businesses in the US fall under the small business category (Farrell, Hirt & Farrell, 2009). This is clearly why small businesses are important for the US economy because of its percentage make up for the business industry. Small businesses also create opportunities for minorities and give women the opportunity to successful in the business world. Small business owners are not guaranteed
Thanks in part to microeconomic reforms in the 1980s, Australia has experienced two decades of continuous growth, low unemployment, controlled inflation, very low public debt, and a strong and stable financial system (Washington, DC: Central Intelligence Agency, 2013-2014). Australia has an efficient government sector, a flexible labor market, and a very competitive business sector (About Australia Pty Ltd, 2015). The four main components that make up the Australian market economy are trade, manufacturing, services, and finance. The services sector represents the largest part of the Australian economy, accounting for 75% of all jobs and nearly 70% of the overall GDP (Washington, DC: Central Intelligence Agency,
Economic forces pertaining to Australia can greatly influence the way businesses operate. General economic forces such as inflation rates, interest rates, currency exchange rates, unemployment levels, average disposable income, and personal saving rates can all affect organisations to a certain extent (Hill et al, 2004, p74).
Inside this are varying roles, such as wealth creation, innovation and entrepreneurship. Majority of small businesses make $200,000 on average a year(as per 2012 statistics). Wealth creation can be seen in the small business contribution to GDP and GSP. According to theconversation, in 2013, small business added to rougly 20% of Australia’s GDP at the time, and it can be assumed that the same contribution percentage could come from NT. Small business with a higher revenue will be taxed more, and this will go back into the community in funds for schools, emergency departments and such.
This was just a definition on the basis of how many employees are present in the company. When looking at different countries and industries, the employees can range from 50 in Australia till 500 employees. Other factors that determine whether a business is small or not are net profits, assets or sales. There are many benefits of owning a small business but then again there are disadvantages as well. The business can be initiated with a small initial capital and can be advertised in any manner. The person is her or her own boss and there are no
With such a small population density compared to the size of the country, Australia has always had a heavy reliance on the automotive industry to connect people and places. It’s clear that Australians are passionate about their automobiles with over 60 brands readily available for purchase, which is a lot more than in the United States. While most live in and around the capital cities and have abundant access to public transport, people still value owning their own vehicle for work and leisure purposes and its benefits are greatly increased in rural areas where it is the only form of
U Drive Transport faces stiff competition of the new entrants within the markets for car rentals in Sydney city for the company. The threat of competition is significant in influencing their pricing and the operations of the car rentals.
Therefore, if people are buying new vehicles they are likely disposing of their old vehicles. Whether it is selling the car for a fraction of the original cost or selling the car for scraps, the consumer wants to make some sort of profit. Enter AutoTrader, one of Canada’s first online websites that allows consumers to swap, sell and buy used vehicles. AutoTrader is the only large multinational company that satisfies this niche market. SHOP.CA has already built a strong brand name and the development of an automotive department should be very successful. Used vehicles can generate massive profits with the sale of few units so it would only take a few sales for the automotive department to be considered a success and make a lasting impact on the company. SHOP.CA is slowly but surely expanding their departments to attract new consumers so developing an automotive department can be expected in the near
This report has explained 5 key influences within the business environment, impacting on business opportunities in Australia, and shows how these influences will affect the successfulness of the opportunity. Failure to understand these influences could lead to sales and profits falling due to decreased consumer spending. It has also been accentuated through means of articles and resources as proving the importance of each
The new car product is the core of Autobytel’s automotive business. In a nutshell, Autobytel helps customers with making choices about the type of car they want to buy without the pressure of a sales force. Once a customer has determined the exact type of car they want to buy, the service then directs these motivated buyers to participating retailers. In essence, Autobytel has two customers, car buyers and car sellers and needs to work at pleasing both. In order to continue to attract more car buyers, Autobytel needs to focus its marketing and understand the marketing plan’s effect. Not only will this bring more interested
Small businesses are mighty minnows, reflecting the competitive spirit that a market economy needs for efficiency; they provide an outlet for entrepreneurial talents, a wider range of consumer goods and services, a check to monopoly inefficiency a source of innovation, and a seedbed for new industries; they allow an economy to be more adaptable to structural change through continuous initiatives embodying new technologies, skills, processes, or products (Ibielski 1997, p. 1).
The importance of small and Micro Enterprises (SMEs) in the economy of any country cannot be overlooked. In fact for nearly 15 years, most researchers dealing with economic planning have highlighted the significance of these enterprises stating that they are a key player in realizing any country’s economic goals. As such, governments as well as other organizations with interest in development are laying plans and strategies to promote the establishment of Small and Micro Enterprises. This is seen as a move to ensure that there is full participation of SMEs in the country’s economy. The Small and Micro Enterprises have been known to contribute to a large extend as a source of innovation, entrepreneurial skills as well as source of employment. For example, statistics in 25countries of the European Union show that 99% of the jobs provided to its citizens come from the micro, small and medium-sized enterprises. Rowe (2008) points out that the British economy relies heavily on the participation of SMEs. On the other hand, 99% of the UK’s economy is composed of small and micro enterprises.