Will you take the pledge this Australia Day?
With BREXIT in the UK and a new President in the White House trumpeting “buy American, hire American” it has become very obvious to me that all of us Aussies need to get on board and support the grass roots of our economy by buying Aussie made and Aussie owned.
And what better time to re-evaluate our spending habits than Australia Day.
I recently came across the following stats from research published by the Industry Capability Network that shows that for every $1 million of new or retained manufacturing business in Australia, the following effects flow through the economy:
- $333,900 worth of tax revenue generated
- $985,000 worth of value-added generated
- $95,000 worth of welfare benefits saved
- 10 full-time jobs created
It makes sense to buy things that have been made right here in Australia.
Just imagine the value to our economy and the knock-on value to every one of us if everybody in Australia simply diverted $1000pa of expenditure away from foreign made and owned products and supported Aussie made and owned instead. The value to our economy will be enormous:
- $8 billion pa worth of tax revenue
- $23.6 billion pa worth of value-added generated
- $2.3 billion pa worth of welfare benefit saved
- 240,000 full time jobs created.
I one year we would wipe out the budget deficit, remove the balance of trade deficit and provide meaningful jobs for our children and the generations to come.
It’s about value NOT price
Whenever I talk to business owners about buying Aussie made and owned I often hear the refrain “imported is cheaper”. On the other hand these same people struggle to communicate the value of their products and services and often revert to using price as their main competitive tool. How the heck are these business owners going to be able to sell on value when they only ever buy on price…time to wake up!!