Business

The pandemic has had a dramatic, global-scale impact on a variety of businesses and manufacturing has certainly not been spared. However, while manufacturing in Australia is the subject of a targeted $475 million government drive to boot a dwindling industry, the country’s unique management of the Covid crisis has had some startling results. According to the Australian Bureau of Statistics, the country had managed to stabilise and begin to rebuild the total number of manufacturing jobs between 2015 to early 2020. Even with the disruption of Covid and the loss of 56,600 jobs in the latter half of 2020, the industry has not been as severely affected as most others. The Alternative Path of a Pandemic Recession Previous Australian recessions have seen large declines in a variety of manufacturing industries. These include textiles, clothing, footwear, passenger car assembly and more. Recession during Covid has brought a very different landscape – mainly driven by the activity restrictions that have hit industries such as hospitality, travel and the arts the hardest. Manufacturing that concentrates on areas that support these related industries, such as beverage products and pulp, paper and converted paper products, have reported job losses of 10.2 per cent and 8.1 per cent respectively for the period from 14 March to 19 September 2020 (according to ABS-ATO payroll data). This can be directly attributed to the closure of restaurants and hospitality venues for the former and the rise in home working for the latter. Conversely, the manufacturing of chemical and chemical-related products – for example, hand sanitiser and pharmaceuticals – has increased over the same period. The demand for personal care items and health supplements has risen, with many of these being made by local manufacturing firms. A Shift from Global to Local One marked change that can be directly attributed […]

The multi-billion-dollar global luxury boat industry is experiencing such a boom brought on by the pandemic, that it is fuelling a burst of new locally designed and produced motor yacht models, as well as sales and exports. Offering the freedom to escape home-based lockdowns, circumnavigate international travel restrictions, and holiday by avoiding crowds, the return of premium yachts has been one of the striking global trends to emerge from Covid-19. Family-owned luxury yacht manufacturer, Maritimo, is based within the Gold Coast’s Marine Precinct – one of the most advanced and highly respected marine clusters in the southern hemisphere. Maritimo said interest from buoyant domestic and international markets had exploded in the past 18 months. Maritimo Director of Design Tom Barry-Cotter said the boatbuilding giant was positioned to experience 20 per cent annual growth year-on-year over the next three years, with orders for new motor yachts sold out beyond mid-2024. “Everything from web traffic to enquiry and sales figures are at record highs,” Barry-Cotter said. He said two key factors were driving growth – a strengthening global economy and Maritimo’s large scale new model roll-out. On the back of rising wealth, the global market for luxury craft is projected to jump to US$84.7 by 2027.  This is up from US$64.1 billion in 2020 when the Covid crisis began, according to the latest Yacht Industry Global Market Trajectory and Analytics report. “Boating is a safe, family-friendly activity and has certainly become an ideal alternative to international recreational travel during the past 18 months,” Barry-Cotter said. Even from markets where travel wasn’t so heavily restricted, such as the United States, Maritimo was experiencing record sales and enquiries, he said. “We are seeing record interest and sales from Australia, New Zealand and North America,” he said. “Over 50 per cent of our production is […]

Leading Australian producer and marketer of premium plant-based foods Fenn Foods, has been awarded position #55 on the prestigious AFR Fast 100 List for 2021. This latest achievement recognises the significant progress and growth of the company over the past few years, “Our focus on innovation has seen us become one of the 100 fastest growing companies in Australia,” says Fenn Foods CEO and Co-founder Alejandro Cancino. “The resulting capability to enter into new categories will help us build our brand awareness as leaders in premium plant-based food categories.” With Australia’s plant-based meat industry demonstrating strong upward trajectory towards its $3 billion potential by 20301, Fenn Foods’ growth trajectory is set to continue. The company’s dedicated plant-based foods production facility on the Sunshine Coast in QLD, in combination with its continued investment in market intelligence and R&D; provides the platform to validate and launch new products and formats, supporting the category’s growth in both retail and foodservice markets, through leading quality, taste and texture. 1 The Food Frontier, 2020 State of the Industry Report Fenn Foods is Australia’s leading plant-based protein producer with one of the largest locally produced food service range in the country as well as a consumer-favourite retail brand, vEEF®. Founded by renowned chef, Alejandro Cancino, the company has achieved massive growth. Fenn Foods distribute nationwide and are entering new categories every year. The company is dedicated to innovation with an experienced R&D team working on perfecting taste and texture profiles of existing items and crafting world-first products. This focus has enabled the company to champion plant-based foods, change Australia’s protein culture and position vEEF® as the consumer favourite.