Sydney, Australia August 12, 2014 – In September of 2013 Tony Abbott proclaimed “From today I declare Australia is under new management and Australia is now open for business” after defeating prime minister Kevin Rubb.
According to the National Australia Bank’s (NAB) index of business conditions jumped six (6) points to to +8 in July of 2014, representing the highest since early 2010 and an upbeat sign for the economy in the third quarter. The NAB’s index is a survey of more than 400 firms.
As a means of supporting the economic, the Reserve Bank of Australia (RBA) has held interest rates at record lows of 2.5% for the last year to support the economy to counter act the slowdown in mining investment. The RBA pays close attention to the NAB survey and views it a as leading indicator of economic activity.
The retail sector and home construction contributed to NAB’s index of business confidence by 3 points to +11. Sales measures climbed 7 points to +14 and the survey’s measure for profitability increased 7 points to +10. The employment index increased to zero (0) after adding 3 points. The forward orders index rose 4 points to +5 above its average.
NAB’s chief economist Alan Oster, commented that “Firms still appear unfazed by the federal government’s ‘tough budget’, possibly taking comfort in the bounce back in consumer confidence… Stronger sales and profits are driving the trend, but the recovery continues to be relatively jobless with the employment index seeing more moderate gains.”
While many have been worried about the impending economic slow down since 2013, the consumer staples sector (restaurants, pizza, ice cream, etc) of the Australian economy is experiencing the start of a new market cycle. As an example, the frozen yogurt industry has seen increased demand for its products and according to many it is just the beginning with years of projected growth. Australia including the other four main countries of Oceania (Papa New Guinea, New Zealand, Fiji, and Solomon Islands) have a population base exceeding 35 million. The combination of the local pollution and millions of tourists each year, make this part of the globe fertile ground for frozen yogurt and pizza businesses.
We wrote about the opening of Tutti Frutti in Melbourne two years ago, but we are still at the very begging stages of frozen yogurt coming to Australia. Exceptional growth is anticipated in the region over the next decade.
Start enjoying the economic prosperity. Start your own business including frozen yogurt shop in Australia? There are two basic ways to start a frozen yogurt shop. 1) Join a franchise or 2) open a new one. In either case, Sintel Systems and your 1-stop frozen yogurt point of sale (POS) provider will be your best adviser. We can help you join a successful franchise or start your own. Why is Sintel Systems positioned best to consult you? We see the money and truly know what works and what does not.
Australia’s Best Choice for Frozen Yogurt:
Call us at our New South Wales Number: (02) 8073-0529 or Email us Support@SintelSystems.com or contact us online