Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Business migrants boost economy.



Download WordDownload Word

image

Media Release

 

The Hon. Phillip Ruddock MP

Minister for Immigration and Multicultural Affairs  

 

 

BUSINESS MIGRANTS BOOST ECONOMY

 

MPS 014/99

 

Business migrant arrivals over the past three years have created 7,700 jobs and generated $348 million in exports, the Minister for Immigration and Multicultural Affairs, Mr Philip Ruddock, announced today.

 

The Ministers comments came as he released the latest report on the success of Business Skills migrants who entered Australia in 1994-95 and 1995-96.

 

“The results of this latest survey are very positive and show the importance of the Government’s push to refocus the Migration Program on skilled entry, " Mr Ruddock said.

 

“The Government has been determined to deliver a properly structured Migration Program, with an appropriate emphasis on the skills arid capital needed to grow the economy.

 

"lt is particularly pleasing to see that the two intakes of business migrants surveyed have not only established new businesses, but have developed new links with international markets, particularly our important trade partner of South East Asia.

 

“Sixty-six per cent of new business established by business migrants from the 1995-96 intake are currently exporting goods.

 

“In addition, these two groups of business migrants have produced goods and services that we would otherwise have had to import, and have introduced new technologies.

 

“As Australia celebrates its 50th year of Australian citizenship, these results prove yet again how our cultural diversity benefits all Australians, by helping the nation win its share of business in the global marketplace”.

 

The survey found that of the 905 business migrants who entered Australia in 1995-96;

 

·  Seventy-six per cent (687) had established new enterprises, 21% (190) were preparing to set up, and only 3% (28) were no longer in business.

 

·  The most popular sectors for new businesses included wholesale (60%), property and business services (17%), retail (7%) and manufacturing (5%). On average, every new business employed 4.5 staff each.

 

·  The top source countries for Business Skills migrants in 1995-96 included Hong Kong SAR (34%), Indonesia (20%), Taiwan (18%) and South Africa (8%).

 

These figures were in line with those of the previous year’s intake of business migrants. Of the 441 business migrants who entered Australia in

1994-95:

 

·  Eighty-eight per cent (386) were successful in setting up in business, 8% (35) were yet to get started and 4% (20) had been unsuccessful in their attempt.

 

·  The most popular sector for new businesses included wholesale (50%) property and business services (15%) and manufacturing (10%). On average, every new business employed 4.7 staff each.

 

·  The top source country was Hong Kong (20%), followed by South Africa (19%) and Indonesia (17%).

 

“The Government believes these migrants will continue to improve and strengthen their position in the marketplace over time, with great benefit to the Australian economy,” Mr Ruddock said.

 

For a copy of the report, ‘Annual Post-Arrival Survey Reports’, contact Donal Baylor, tel: 0262642192 or bssdima@atrax.net.au

 

ENDS  Monday, 1 February, 1999

 

Media Inquiries: Brad Robinson (02) 6277 7860 or 0419 278 715

 

 

 

JS