Ten business ideas to come from Labor’s election victory
Thursday, September 9, 2010/
Labor may have lost the vote and seat count, but thanks to the help of some independents the reality is that it will form government for the next three years, barring defections.
So, whether you voted for the ALP or not, we’ve compiled 10 business ideas that could take flight under a re-elected Gillard administration.
The coalition promised to cancel the government’s $466.7 million eHealth records scheme if it came to power. Events of this week mean that the scheme is still well and truly on track.
With the gradual roll out of digitised health documents across Australia, there is potential for new specialist businesses to assist.
Labor has been keen to point to education as one of the areas that would benefit from the creation of the National Broadband Network (NBN).
High-speed internet will undoubtedly aid education and skills training and businesses with the tools to support this drive could benefit.
As part of its deal with rural independents Rob Oakeshott and Tony Windsor, Labor has promised an extra $1.4 billion in investment in infrastructure and economic development in regional Australia.
This money will include funds for projects identified by local communities. Start-ups based in areas earmarked for this cash could prosper.
Labor’s infrastructure drive will create a need for occupational health and safety provisions. The NBN will also help providers connect with businesses and government agencies that require OHS.
5. Regional labour hire
Creating infrastructure requires extra workers. The latest unemployment rate is at a 19-month low and with plenty of jobs being created in Australia there is an opportunity for new recruitment firms, especially in regional areas where skills and numbers are harder to come by.
6. Property management
All those new workers building school and roads will need somewhere to stay. KPMG research on Australia’s growth areas has shown pockets of rapid population increases. People will move for work and businesses that offer services for these workers, such as accommodation, will be in high demand.
7. Training services
Labor’s Trades Apprentice Income Bonus, set to come in on January 1, 2011, means that trade apprentices will receive a $5,500 tax exempt bonus over the course of their training.
It’s anticipated that an extra 50,000 apprentices will start courses as a result of this incentive. Businesses that can provide skills training could benefit.
8. Dental services
A centrepiece of the Greens’ election campaign was to move dentistry onto Medicare. As part of Labor’s deal with Bob Brown’s party, this looks likely to become a reality.
This should create demand for not only more dentists but also support staff and manufacturers of dentistry equipment.
9. Home automation
The NBN will bring benefits beyond Labor’s mantra of health and education. It will potentially allow people in regional Australia to experience the technologically-advanced lives of city dwellers.
One example of this is home automation. Integrating your computer systems with every other appliance in your house is relatively new, but the NBN should provide opportunities in this area for savvy start-ups.
10. Green buildings
Businesses that invest in energy efficient buildings are now eligible for a bonus tax deduction of 50% of the cost of the eligible assets or capital works.
The demand for green buildings is expected to rise as a result, opening up the market for firms that specialise in areas such as solar panels or insulation.