Australia has grown into both economic size and prowess over the last century making it amongst some of the worlds most thriving economies. In fact, since 2002, GDP has more than doubled and continues to grow at an average rate of 3.42% a year. This ranks Australia second in the world behind Iceland.

The primary contributor to the Australian GDP is the finance and business services segment, with 20.7% of the GDP origins. This Australian strength is particularly attractive to new business is search of financing, start-up and capital. The sheer size of this segment allows for the greatest range and variety of services. Also, such a saturated market lends to high competition for a start-up company’s business, which should prove to be advantageous in regards to things such as loan terms and interest rates.

Another key indication of Australia’s economy is the combination of a low unemployment rate, decreasing 3.3% over the last decade, and a consistent rise in labor productivity on par with that of the United States. This can be attractive to new businesses due to the potential for highly productive labor forces and employees. However, one might also consider that naturally, when jobs are more bountiful labor becomes more expensive, which in turn, increases the cost of production and per unit profits decrease. So, before jumping into acquiring a large Australian labor force, one must consider their own individual ratio of increased profits due to high productivity versus the cost of that productive labor force.

As with many world economies, Australia’s core strength lies in its natural resources. With minerals making up more than 75% of Australia’s exports raw materials play a major economic role in Australia’s financial strengths. In fact, Australia’s top five exports are all mined resources: coal, iron ore, non-monetary gold, crude petroleum and aluminum ores. The strength of Australia’s natural resources lends to new companies that require crude material for their product. Due to Australia’s positioning on the globe, one might want to consider building manufacturing facilities on the continent to avoid the unnecessary cost of shipping raw materials.

In conclusion, Australia is a strong and steadily growing economy. This strength is founded on the solid core of plentiful natural materials and a strong labor force as well as the seemingly limitless growth potential provided by above par finance and business service options available.