That's ok when its just an individual business doing bad but when it effects enough at one time, its going to effect the rest of us.
Is the economy really that dead. ?
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That's ok when its just an individual business doing bad but when it effects enough at one time, its going to effect the rest of us.
The point is, not everyone is doing bad.
Take hospitality for an example. Some traditional pubs and restaurants are crying poor and losing money. Yet many new restaurants are springing up, offering superior decor/service/food quality/gimmick and they are so busy you can't get a spot without booking a week in advance.
It goes back to my same comment. If a business is doing poorly, maybe it's time to rethink its product offering and marketing techniques.
Take hospitality for an example. Some traditional pubs and restaurants are crying poor and losing money. Yet many new restaurants are springing up, offering superior decor/service/food quality/gimmick and they are so busy you can't get a spot without booking a week in advance.
It goes back to my same comment. If a business is doing poorly, maybe it's time to rethink its product offering and marketing techniques.
Underemployment figures are also published (i.e. people who wish to work more hours than they are at present). The current underemployment rate is 8.1% (http://www.abs.gov.au/AUSSTATS/[email protected]/Lookup/6291.0.55.003Main+Features1Nov 2013?OpenDocument).
as for the restaurant examples, a lot of the restuarants that are booked out for a week are the ones done by famous chefs or that were featured on Master chef or a contestant/winner/runner up has done,
you cant simply go out an copy that model
Food is a very subjective thing, and the majority of the people that are queuing for an hour to get into a place are doing so to keep up with the jones, or to be able to tell their friends they go or have been
i have many friends in the food industry and i greatly disagree with what you say. there are plenty of people doing well with no "celebrity" following
australia is a high cost environment and labour costs in particular are a killer. those who are adjusting their model to account for this are the ones who are making good money. ive got a friend who owns a couple of casual joints in perth who would make more profit than any of the fine diners in perth simply because the low cost, lower margin, high turnover model works best in a high cost environment like we live in.
people stuck in the past are the ones struggling the most and this goes for any industry. most people looking to open a regular retail shop or a stuffy fine diner are going to struggle and only a select few will be able to make it work.
Not necessarily . Many people in wahroonga shopping centre are complaining about the lack of parking due to a new restaurant called the butchers block .
Filled a need in the market and it's booming .
There's very few high profile chefs , but lots of good restaurants.
Cliff
I agree; there will be a certain amount of demographic and geographic influence on things.
Go to somewhere like South Yarra and it will show a "business as usual" atmosphere....appears to be firing on all cylinders like always.
One thing I've seen happening down here in Melb and Bayside etc when shops are vacated in Shopping Malls etc; the types of shops that move in are often yer $2 shops, or another hairdresser, or a massage place (a legit one
).The quality of the shops seems to be dropping (no offense to the massage folk), but you know what I mean.
That was why I asked that question.
There are some retail areas which will always have a tenant, no matter what the climate. It's the tenant itself that is the factor and indicator of the climate.
Things like restaurants - that is an industry that is as successful as the last menu and/or last chef; to a degree.
The biggest problem is invoices getting paid.
If government departments and the bigger companies who have money paid money in 14 days, then smaller businesses can pay invoices in 14 days, which means their suppliers can pay invoices in 14 days and wow, suddenly there is money back in the economy.
The average period for payment of an invoice is 60 days. That is abysmal for a country like this, and a major drain on productivity.
If government departments and the bigger companies who have money paid money in 14 days, then smaller businesses can pay invoices in 14 days, which means their suppliers can pay invoices in 14 days and wow, suddenly there is money back in the economy.
The average period for payment of an invoice is 60 days. That is abysmal for a country like this, and a major drain on productivity.
That is what everyone tries to do - emulate the successful ones.
Noone goes out to not be successful.
We are discussing the state of the economy, and the movements around the place of late, etc - which requires discussing good, bad and otherwise.
You know what my opinion on the economy is - and it's not based only on my circumstances as you probably think.
It is a matter of course that all businesses and industries will come up in a discussion about the state of the economy.
Hence the title of the thread.
While there will always be successful businesses in any climate; it becomes a concern if the overall climate shows a large number of non-successful results around the place, versus successful ones.
Let's not put our heads in the sand and ignore all the factors.
I agree with Bayview,
You probably heard the news about Quantas axing around 5000 jobs!
And many more bigger establishments in other major industries are actually closing down like within the car industry and plenty other more.
Those are definitely signs that our economy is not doing well. Its not a total ruin yet but definitely not doing well.
You probably heard the news about Quantas axing around 5000 jobs!
And many more bigger establishments in other major industries are actually closing down like within the car industry and plenty other more.
Those are definitely signs that our economy is not doing well. Its not a total ruin yet but definitely not doing well.
A big problem with all the job losses at the moment is that the organisations that may have been able to take some of the people on at other times are culling or have frozen recruitment themselves.
Thats the situation at work, not highly televised, but we willl probably lose 1000+ over the next year or so. Have already lost some and been on a recruitment freeze the last couple of years.
Its the same story with a lot of government departments, just read ATO was looking at getting rid of 1000 via redundancy and more via natural attrition.
It's going to make it hard finding another job at the moment.
There's a lot more weakness than just these highly televised redundancies.
This is something I find troubling with the current Government, do they really understand the whole picture? This is what they should be asking themselves before rushing into any decisions.
Thats the situation at work, not highly televised, but we willl probably lose 1000+ over the next year or so. Have already lost some and been on a recruitment freeze the last couple of years.
Its the same story with a lot of government departments, just read ATO was looking at getting rid of 1000 via redundancy and more via natural attrition.
It's going to make it hard finding another job at the moment.
There's a lot more weakness than just these highly televised redundancies.
This is something I find troubling with the current Government, do they really understand the whole picture? This is what they should be asking themselves before rushing into any decisions.
I think they have decided their hardline stance, and will probably stick to it until the wheels fall off completely or they get voted out!
Who knows, we might come out of it better off as a country, leaner, meaner, more competitive and ultimately be better for the pain we endured, or we might get further and further up **** creek with our paddle long, long gone.....
You obviously have never been involved in the hospitality business.
Adelaide is dead, agreed. Slow immigration, no strong export product, no foreign capital, minimal tourism. Even property prices aren't moving.
Your capital city council and state government needs to be sacked, honestly.
Economy
I think that Adelaide will remain flat however hopefully they will elect a new Liberal government on the 15th March which will at least see the state start to move in the right direction.
Out of all the cities I still feel that Brisbane is the best city because i still feel it is undervalued.
Most of the issues currently relate to confidence, I do not feel a lot will change before the May Budget. If it is not as tough as people are expecting then I feel people will relax a little. The Federal government cannot to be tough because it would cause the economy to stall.
I think that Adelaide will remain flat however hopefully they will elect a new Liberal government on the 15th March which will at least see the state start to move in the right direction.
Out of all the cities I still feel that Brisbane is the best city because i still feel it is undervalued.
Most of the issues currently relate to confidence, I do not feel a lot will change before the May Budget. If it is not as tough as people are expecting then I feel people will relax a little. The Federal government cannot to be tough because it would cause the economy to stall.
Brisbane is coming from a low base, and has a sensible and progressive government.
Sydney and Melbourne are at high points, but they are the only truly major cities in this country and there is no shortage of foreign capital.
Perth is in a good time zone and proximity to many important South East Asian regions, and is also a good hub for mining businesses with operations in Africa, and will continue to benefit.
Adelaide and Hobart are up **** creek and largely due to incompetent governments.
Try this as a search term in Google:
"Chinese and property markets in [enter city you like]"
You'll see the difference
Sydney and Melbourne are at high points, but they are the only truly major cities in this country and there is no shortage of foreign capital.
Perth is in a good time zone and proximity to many important South East Asian regions, and is also a good hub for mining businesses with operations in Africa, and will continue to benefit.
Adelaide and Hobart are up **** creek and largely due to incompetent governments.
Try this as a search term in Google:
"Chinese and property markets in [enter city you like]"
You'll see the difference
