Apart from General Public which by and large is sick of Cheap chinese goods even many economists feel that "Australian made" products can bring new life into Australian Economy. Over the years Australian industries have folded up in front of the might of "Made in china" brand which is 10 times cheaper.
However, we all know that what kind of quality we get from there. Moreover the large distance is also becoming a major problem these days. Recently there was a news report that when Child Star Justin Bieber visited Sydney a major girl clothing company needed hundreds of supporter T-Shirts. Time was a premium so instead of ordering cheap T-Shirts from China they asked a local company.
Not only they got their T-Shirts done in no time but a flagging industry got a ray of hope. I believe that "Made in Australia" brand is still very much in demand especially in industries like clothing and accessories. Australian businesses should pay more attention to this sector. Not only it is a great business idea but it can transform Australian Economy by generation of thousands of Jobs.
Mark Sharma
Strathfield
Showing posts with label China. Show all posts
Showing posts with label China. Show all posts
Saturday, July 10, 2010
Monday, February 16, 2009
Did you know?
Australian businesses are slugged with some of the highest Tax rates in the world. Australia has a flat business tax rate of 30% which is much higher than following countries:-
UK - 21% (starting)China- 25%Austria-25%Bulgaria-10%Uzbekistan-12%Slovenia-22%Belarus-24%Spain-25%Russia-20%Slovakia-19%Switzerland-13%Cyprus-10%Croatia-20%Czech Republic-21%Denmark -25%Estonia-21%Finland-26%Greece-22%Hong Kong-16.5%Iceland-18%Hungary 16%South Korea-13%Malaysia-26%Netherlands-25.5%Poland-19%
We should specially be worried about Singapore (18%- to be reduced to 17% next year), Malaysia (26%), China (25%), Hong Kong (16.5%) and Korea a mere 13% (starting tax)
These countries are Australia’s nearest competitor in Asia-Pacific and their reduced tax rates will affect Australian companies especially now that we are in worst recession of all times.
Similarly, Australian Government should learn something from Russia which is getting stronger day by day with a mere 20% tax rate thereby becoming an attractive destination for FDI’s. Why would people invest in Australia or build bigger businesses if close to 1/3rd of their profits are going to government?
Why is that Hong kong doing so well as compared to say a city like Melbourne?
UK - 21% (starting)China- 25%Austria-25%Bulgaria-10%Uzbekistan-12%Slovenia-22%Belarus-24%Spain-25%Russia-20%Slovakia-19%Switzerland-13%Cyprus-10%Croatia-20%Czech Republic-21%Denmark -25%Estonia-21%Finland-26%Greece-22%Hong Kong-16.5%Iceland-18%Hungary 16%South Korea-13%Malaysia-26%Netherlands-25.5%Poland-19%
We should specially be worried about Singapore (18%- to be reduced to 17% next year), Malaysia (26%), China (25%), Hong Kong (16.5%) and Korea a mere 13% (starting tax)
These countries are Australia’s nearest competitor in Asia-Pacific and their reduced tax rates will affect Australian companies especially now that we are in worst recession of all times.
Similarly, Australian Government should learn something from Russia which is getting stronger day by day with a mere 20% tax rate thereby becoming an attractive destination for FDI’s. Why would people invest in Australia or build bigger businesses if close to 1/3rd of their profits are going to government?
Why is that Hong kong doing so well as compared to say a city like Melbourne?
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