South Australia is located in the southern and central area of Australia. It is the fourth largest of all of the states.
The state shares borders with all other Australian states. On the south, it is bordered by two bodies of water, the Indian Ocean and the Great Australian Bight.
This state is the fifth most populated state, with 1.6 million people. It also has a very dry climate.
Business in South Australia
If buying a business in South Australia is your interest, you have many traditional options available. Agriculture, manufacturing, and mining are among the strongest industries, but the finance sector is also becoming increasingly relevant.
Manufacturing, the traditional powerhouse employer, has finally taken a back seat to health care and social assistance. In 2009-2010, manufacturing employed roughly 83,700 people, while health care and social assistance employed 103,300.
The growing retail sector provided 91,900 jobs.
The manufacturing industry accounts for almost 12% of the Gross State Product. This industry consists mostly of automotive and component manufacturing. Pharmaceuticals, defense technology, and electronic systems play a minor role.
Despite past hardship, this state's economy has recently experienced improvement. 2006 exports far exceeded imports for the same year. The state's credit rating also improved to AAA+.
While defense technology and other manufacturing industries are of growing importance, the region has other major industries. Meat preparation, wheat, whine, wool, and fish all are significant components of its economy.
South Australia does also maintain access to significant amounts of natural resources. The Olympic Dam mine is the largest known deposit of uranium in the world. It also contains the fourth largest deposit of copper in the world, and the fifth largest gold deposit.
In terms of population, Adelaide, with around 1.2 million citizens, presents the best business opportunity. There is a steep drop off to the state's second most populous city, Mount Gambier, which has a population of 23,500.
The best opportunities for buying a business in South Australia and in this region revolve around the health care and social assistance sectors. If you like to be in with the new and exciting, then target the emerging finance sector. If you're looking at selling a business in South Australia, keep in mind the manufacturing industry seems to be losing the power it had in the past.
About the Author
This Wiki was written by Andy White, CEO of Biz Trader .