In the past few years, Australia’s income from mining has been hit hard. The price of coal and iron ore has dropped by about 65% and poor Gina Rinehart has seen her fortune drop from $30B to a poultry $11B!
Your business might not have anything to do with mining but can this impact on you indirectly? The short answer is yes.
Our Resources Aren’t Worth What They Once Were
Australia is a lucky country. Despite our embarrassing political circus, our remote location in the world and the global financial situation, we just keep moving forward. We have just 23M people and a massive supply of natural wealth. We can keep selling the “family silver” in almost limitless supply.
For many years, no matter what we did as a country we could stay afloat thanks to mining income – running a deficit took real creativity!
Sadly for our economy, these resources aren’t worth what they once were, and it leaves us to survive on our own merits as a country without the backstop. It means that if we have poor leaders in power, we will start to feel the brunt of their mistakes; if we aren’t creating innovative products for export, we will start to feel that too.
If We Do Run Our Country Into A Recession, We Don’t Have The Backstop That We’ve Become So Accustomed To
It’s an issue that impacts EVERY citizen of Australia and as entrepreneurs it means we have to lift our game now more than ever – regardless of industry.
Lifting our game means building more credibility, developing better products, looking for bigger markets and getting known for being an industry leader. Are you and your company willing to play that bigger game?
This month, Daniel Priestley is coming to Australia for Campaign Driven Enterprise. It’s not just about having people lining up to do business with you in the boom times, but also during recessions. In this 2-Day Masterclass Daniel will be getting real about the coming economy shift in Australia and how it’s going to affect your business.