According to an RMIT-MGI survey, the percentage of manufacturers in family business is contracting noticeably.
Business Spectator notes that a decade ago, manufacturers made up 40 per cent of all family businesses, though the share is on a sharp decline, and had been sped up by the GFC.
The MGI Australian Family and Private Business Survey 2013, first published in 1994, states that there has been a fall in manufacturing "once the heartland of the sector – from 40% to 20% of the respondents" in the last decade.
In 2006, the percentage was 26.
Demagrapher Bernard Salt from KPMG told Business Spectator, “If you go back to 1976, that figure was around about 1.7 million so over a quarter of a century we have gone from 1.7 to under a million and in 10, 15 or even 20 years’ time, we’ll still be making stuff but we might not need 980,000 workers.
“We might only have 600,000 workers and we might be making bricks and beer, stuff that’s too hard to bring in from overseas at an effective rate, or it might be high tech products that only the Australian market can make.
“But in either case, the continued diminution of the manufacturing I would see – not elimination but continued erosion.”
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