January 1, 2014

Ready for more in 2014?

This year in business there's more to talk about.

This year in business there’s more to talk about.

At NAB we want to help uncover the opportunities beneath the surface for businesses across all sectors in 2014. Here are a collection of interesting insights that could serve as food for thought as you put together plans for your business this year. Enjoy!

In 2014 you will eat a quarter of a cow. But probably not in one sitting.

In Australia average meat consumption per year is 100-110kg per person – roughly one-quarter of an average sized cow. But for more opportunity in agribusiness, think Asia. Beef consumption in South Asia is 5.5kg per person now but set to rise to 18kg/person by 2050 as incomes rise. With more opportunities for Australian agribusinesses to provide high quality, safe and healthy meat to Asia, it’s a good time for businesses in this sector to put an Asian strategy in place. Source: ABARES Science and Economic Insights Report, Issue 1-2011, Global food security: facts, issues and implications, Brian Moir and Paul Morris.

If you’re looking to grow in Commercial Property – look east.

When it comes to commercial property, NSW is the most optimistic state – for now! According to NAB’s Q3 Commercial Property Survey, another eastern state will overtake NSW as the most optimistic state in two years time -Victoria.

How much do Australian households spend every 3 minutes?

The answer is a whopping $3.5 million. Even so, there’s plenty more to spend. Aussie households are still managing to save at rates close to the high point reached during the GFC. Source: ASIC, MoneySmart

Online transactions have increased by more than 200% since 2010. This is great news for domestic retailers who control 73% of online sales. Source: NAB Online Retail Sales Index

The number of newly opened ice cream manufacturers nearly doubled the number closed.

More ice cream on the market is always a good thing, and the fact is, the number of ice cream manufacturers that opened in 2013 has nearly doubled the number that closed. What other opportunities in manufacturing are worth scooping up? Sugar, natural textile, cotton ginning and nut, bolt, screw and rivet manufacturing are all on the list. Source: ABS: Counts of Australian Businesses, including Entries and Exits

The Plenum could change your business next year.

Unsure what that is? Now is a good time to find out. The third congress of the Chinese Communist Party could have real impact on Australian exporters. The November Plenum unveiled a wide-ranging reform agenda from the Government that could support stronger medium-term growth for Australian Businesses’ largest trading partner. Source: Patrick Vizzone, Reading the tea leaves, NAB 2013

We’re not just big spenders – we’re also big givers.

With more cash in their pockets than ever, big-hearted Australians continue to share with those less fortunate and other worthy causes. Charitable contributions from all of us continue to climb, up 11% since 2010. Source: NAB Charitable Giving Index

If you’re ready for more, we’re ready for you – nab.com.au/moreforbusiness