Published on September 06, 2010 What does the Labor Minority Government mean for ecommerce?
At last, we have a decision in the long, drawn out circus that was the Australian Federal election 2010. After a lot of deal making, Labor is in. So what does that mean for the Australian ecommerce industry? Here are our thoughts.
Even if it doesn’t live up to the hype or the promised speeds, the rollout of the National Broadband Network is sure to get more Australians thinking about using the Internet and buying online. That’s good news for anyone already running an ecommerce website or thinking of starting an online shop. This is especially true due to the increased focus that the Independents have directed towards regional Australia as part of their negotiations with the major parties.
Company taxes are also set to be cut to 29% by 2013 which will encourage more businesses to start up or grow from sole trader to Company status in order to take advantage of the tax benefits. For wholesalers who make it easy for retailers to get started by offering online ordering, this represents a great growth opportunity to increase their reach.
A raft of other reforms in the areas of taxation, more investment in trades and more spending on infrastructure will help improve the economy in general, which will grow consumer confidence and result in more sales online. Australia is lagging behind the United States in terms of the ability to offer products online and recent research has shown that many Australians are turning to buying from overseas instead of locally. We welcome more sellers in the market to give Australian shoppers what they want.
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