Businesses and Franchises in Melbourne and Victoria
Although the smallest state on the Australian mainland (3% of the total land), Victoria is the most densely populated and second most populous state of Australia. It’s also the second largest economy after New South Wales. The economy is so big it accounts for one-fourth of the gross domestic product of Australia. Melbourne is the capital of Victoria, a very cosmopolitan and diverse city, with a population of over 4.35 million.
Victoria has one of the most stable economies in the world, offering continuous growth. If you are looking to invest or open a business there are several industries to look into.
Export & International Business
Victoria is conveniently located close to Asia, with excellent transportation opportunities, making logistics easy. In fact, a whooping A$35.9 billion was the sum total for exports in 2012-2013. Melbourne airport helps facilitate this, being Australia’s largest airport, transporting 29 million passengers every year.
The Agricultural Industry
The agricultural sector of Victoria is a large one. Victoria is the country’s largest producer of mutton and lamb, dairy products and dried vine fruits, as well as pears. 60% of the land in Victoria is farmland. A lot of agricultural products are exported.
The Manufacturing Industry
Home to machinery, equipment, food, beverage, energy, chemical and petrochemical manufacturing, Victoria has over 15% of its workforce employed in this field.
The Mining Industry
Victoria is home to the world’s largest known reserves of brown coal and also supplies about one-fifth of Australia’s crude oil.
The Service Industry
The service industry is the fastest growing segment of the Victorian economy, with property, finance and insurance services bringing in the largest amount of money and the social, personal and community sectors providing the most jobs.
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