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City Guide - Perth - Business | ||
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Business Perth gets up in the morning and says, "OK, let's do it, let's make money, let's get on with a load of really high-powered stuff right now!"' So wrote Ben Elton in his 1989 satirical novel Stark and indeed, in the late 1980s, Perth boasted more millionaires per head than any city in the world. This was largely thanks to aggressive exploitation of Western Australia's massive resources of gold, iron ore, nickel and other minerals. But a lot has changed in the last decade. A series of financial scandals involving corporate fraud and a Royal Commission into government corruption sent some of the highest flyers to prison (Laurie Connell, Alan Bond) and some on the run (Christopher Skase). Anxious to correct its 1980s reputation as the 'Wild West', the pendulum in Perth has now swung the other way, with the result of a business climate that may be too conservative for its own good. The current outlook is, however, buoyant. Despite the October 1997 Asian stockmarket collapse, Perth's head count of millionaires is still considerable, with the late 90s having seen a surge in new technology moguls, although many of these in turn fell by the wayside in the 2000 dotcom crash. Successful companies remaining include daytraderHG, access1 and adultshop.com. The Perth economy sits comfortably on a cushion of natural resources - some of the biggest mining and exploration companies in the world have offices in Perth, including Alcoa, BHP, Rio Tinto and Western Mining. While the government has been criticised for not diversifying enough from the resources sector, Western Australia still leads the nation in economic growth. In the 1998/99 financial year, WA contributed 23% of Australia's total exports, second only to New South Wales; mining and energy comprised 49% of these exports, followed by agriculture at 15%. Unemployment was equal lowest in the country at 7%. Tourism to Perth has climbed steadily since Fremantle hosted the America's Cup in 1987 and can expect a further boost with run-on effect of the Sydney 2000 Olympic Games. Major corporations headquartered in Perth also include Wesfarmers, Bankwest, ERG Ltd, Chevron and Woodside. Business Etiquette: Businesspeople in Perth are generally less formal than in Melbourne or Sydney. Smalltalk and humour will usually be welcome and most people prefer to be addressed by their first names right from the start. However, a high standard of dress is expected, even in markedly hot weather, when the shorts popular among businesspeople in some other Australian states are rarely worn. Perth people have a strong, pleasingly old-fashioned service ethic and 'not a problem' is the frequent reply to any request. Work-related socialising, in the form of picnics, barbeques or cruises, is common, and alcohol will flow. Similarly, liquid lunches come with the territory. However, smoking in any indoor place should be stringently avoided by visitors unless invited to do so. Normal business hours are weekdays 0900-1700. |