Australian Made is our future
Australian Made is our future
With the Morrison government's decision to block foreign investments that go against "the best interests of the people", many are rejoicing. The new mandate that the Department Foreign Affairs must approve all State agreements with foreign governments, there will be a greater need for Australian business to look at the importance of Aussie ownership verses their bottom line. Businesses that make decisions based solely upon the profit margin will need to re-examine their ethos and alter their values to retain customers.
Now is the time for businesses to stop prioritising profits over moral behaviours and social conscious. Changes need to be made as the Australian people are crying out for something more. We don’t want to return to the way things were, we want to be a self-sustainable country and stop outsourcing production for the sake of a few dollars.
Profitability versus Social Conscious
Although businesses work towards greater profits, and yes, so they should as profits equal jobs. However, the impact some cost cutting measures have not only on their products quality, but their social responsibility to support the Australian market are under fire.
Business ethics and values have always been seen as the enemy when it comes to profits but that is not that case anymore. With Covid-19, there has been a recent shift towards Australian Made products by companies owned by Australians highlighting where we lack in manufacturing, as well as how many businesses have ‘sold out’.
We now find ourselves pursuing the latest ‘Buy Australian Made’ campaign and making more deliberate shopping choices. We are reading labels and making the swap with many of the supermarkets making it easier with aisles and items tagged as being made locally.
Key things to look for:
The Australian Made logo which is for products that have been manufactured - not just assembled - here and at least 50% of the cost of making it was spent in Australia
If the label also said Australian Owned then the company has its head office in Australia and at least 51% of its shares are owned by Australians.
The Product of Australia means that nearly 100% of the products parts/ingredient are from Australia and is nearly all processed here.
Another logo has arisen during 2020 The Australian Owned logo with some stars. These can only be awarded to companies that are at least 80% owned and meet the following manufacturing requirements:
3 Stars is the highest rating with at least 80% of its products are manufactured in Australia.
2 Stars, at least 50% of its products manufactured here.
One star is where 30% of their products are manufactured in Australia.
However, the wider Australian people need to realise that this will result in items costing us more than we are used to. It is the change that we need to embrace. The tide is already turning…. The big business need to ride the wave that many smaller ones are currently enjoying.
As Australians, we pride ourselves on our ‘mateship’ attitude and our support for local communities. Now is no different. Now is the time we band together and support the little locals and keep the profits here in Australia.
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