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Australia info - Essay Example

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Businesses do not exist in isolation, they require a specific support system from the government and other regulatory bodies; and countries differ in the kind of environment they provide to business owners. The World Bank “Ease of doing Business” index places Australia at…
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Australia Businesses do not exist in isolation, they require a specific support system from thegovernment and other regulatory bodies; and countries differ in the kind of environment they provide to business owners. The World Bank “Ease of doing Business” index places Australia at the number 11 out of rankings of 189 countries. The index indicates the relative ease of starting and operating a business within the regulatory environment of a particular country calculated through 10 factors; Australia’s high ranking is due to the support provided to business owners through legislation, tax requirements, permits accessibility as well as the infrastructure and public goods sustaining the economy. Australia has very high scores for both ‘starting a business’ and “Getting credit” (World Bank).
Australia has the world’s 12th largest economy, sustained by a relatively low population of just 23,608,400 people, most of whom are concentrated in a few, highly developed urban centers. Their comparatively geographically isolated location and a small domestic market means that the Australian government is concerned about their future economic growth and local businesses are increasingly looking towards international markets for business prospects (World Business Culture).
Australia’s culture has been influenced by their history as a British colony and the lifestyle, language and social ethics of Caucasian migrants who eventually settled in the area. As a group, Australian’s are considered to be down-to-earth people, who appreciate hard work and do not give much regard to a person’s status or position. Modesty, sincerity and authenticity are important in the workplace as well as in personal interaction. There is a sense of humor in their interactions, the humor is often directed at themselves but may be too caustic for someone not used to the Australian culture (Kwintessential). Even though the English is the primary language in use in the country, for outsiders the local dialect and slang language may also be a difficult to grasp as it is uniquely Australian.
For business relations, Australians focus on efficient and effective communication which emphasizes punctuality and practicality. It is a low-context culture so negotiations and business meetings are straight forward, with a very low emphasis on building long term, informal relationships between business partners on any kind. However, the brusque manner of business may be unsuitable as an international strategy given cultural differences between Australia and their target markets. (Kwintessential).
With the changing economic and demographic demands, Australia has recently relaxed their immigration policy for South-East Asia indicating a shift in their legal and political, and perhaps cultural, structure. Unfortunately, allegations of race issues and discrimination have always plagued the economic opportunities available in the country. A recent study by the Australian Bureau of Statistics says that migrants and temporary residents are the worst hit by recent unemployment trends, with one out of three in that group facing job scarcity (Mercer). While the unemployment rate at 6% is not a highly concerning figure, it is still an indicative of economic trends that need to be studied carefully to understand their exact effect on individual businesses and the future potential for business owners and investors.

Works Cited
Kwintessential. Australia - Culture, Customs and Etiquette. 2013. Web. 26th Sep. 2014.
Mercer, Phil. Australia migrants struggle for jobs. BBC News, Business. 25th Sep. 2014. Web. 26th Sep. 2014.
World Bank. Economy Rankings. June 2013. Web. 26th Sep. 2014
World Business Culture. Background to business in Australia. 2014. Web. 26th Sep. 2014. Read More
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