Australia and other developed markets will eventually have Covid-19 relatively under control, but the virus will remain a threat in emerging markets. The growing interest from overseas (particularly from those in emerging markets) to take advantage of the fallen Australian share market, and buyers looking for a safe haven to park cash has many wondering whether it is a good time to invest in Australia.
For those keen to kill two birds with one stone, that is, to migrate and set up a business in Australia might be interested in priority growth sectors as listed by the Australian Government.
Ambitious new business owners in Australia in one of the following priority industry sectors are expected to receive governmental support using a strategic, sector-based approach that helps grow the industry and create jobs.
- Advanced manufacturing
- Cyber security
- Food and agribusiness
- Medical technologies and pharmaceuticals
- Mining equipment, technology and services
- Oil, has and energy resources
Each industry sectors have their own Growth Centres established to provide support to Australian businesses to realise their potential and ambition. Australia has a strategic priority or global competitive strength in each of these high growth industries, and the government initiative supports Australia’s ongoing prosperity by fostering the growth of each respective sector.
New startups and businesses expanding into these high growth areas will be supported with the goals to increase global market access, reduce red tape, improve management and workforce skills and drive better collaboration in all aspects of business.
Travel restrictions and other, related limitations during Covid-19 may be limiting overseas investors where access to first-hand information and disrupted projects may pose as challenges in the medium term. For an insider look into how your business plans can align with your migration goals, please contact Sellanes Clark for a confidential assessment.