2023 Opportunities

While 2023 will be challenging, there will be opportunities. The gradual opening up of global trade supply lines should assist supply chains and availability of material inputs, and a dampening of inflation pressures in USA could be a game changer for the Australian economy.

Changing consumer preferences with regard to consumption and the resulting demand will open new opportunities for businesses who are supplying direct to consumer (however, we need to be mindful of the excessive consumer expenditure over the Christmas break, as the RBA will take this into consideration when they next meet to assess interest rate rises). Australia’s love affair with Christmas spending will most likely result in increased interest rates. With the significant proportion of home loans moving from fixed to variable rates this will see consumer discretionary (luxury) expenditure reduce considerably. This response is based on economic principles that suggests that with a pre-determined amount of available cash (wages and salaries) and with rising prices, the necessities of life get preference over luxury items.  If this continues, those industries that are part of the B2B marketplace that supply into this growing opportunity, such as cost-effective luxury items or household staples will benefit. However, do your due diligence with regard to the current and future market to ensure that your strategy is sustainable.

Industries that might have potential are:

  • Manufacturing looking to onshore
  • Online retail and the resulting transport opportunities
  • Cyber security, both as part of software design and implementation
  • Agriculture (however, recognising that weather, as opposed to climate change will have a big impact on growth potential)
  • Business support services, also recognising that when we look at this market risk, the cost to enter and exit the market is very low and will result in high levels of competition
  • Mining and allied services, also understanding that this industry is driven by global factors outside of our control and can change rapidly
  • Health care; this is a rapidly growing industry sector as the Australian population ages. We need to recognise that this industry if largely funded by Government and therefore are exposed to the whim of Government funding.

The above is not necessarily an exhaustive list, but it is a start. If we are interested in investing (growth or start-up) we need to ensure that we have done the research into the risks involved. This should include:

  1. Review global and national market trends
  2. Research correlation between economic drivers such as inflation, consumption, supply and interest rates and your profit margins
  3. Internal productivity and financial performance indicators
  4. A comprehensive risk assessment and
  5. A structured strategic plan.

The risk assessment should include both internal and external risks and analyse the future growth or potential economic shocks that could impact on the business based on these assessments.

By conducting a review of the risks and include this assessment in the strategic planning process it will greatly reduce the potential for tears when things do not go as planned and cost you and your business serious dollars.

If you are interested in looking to expand or start a new business let us know and we can provide some feedback potential impacts and opportunities.


Look forward to catching up.


Good luck

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