The Economic Impact of Buying Australian-Made Products

In today's global economy, the choices businesses make about their supply chains and purchasing decisions have far-reaching impacts. One significant choice is whether to buy locally made products or to import goods from overseas. For Australian businesses, prioritising Australian-made products can mean substantial economic, social, and environmental benefits. This article explores the impact of purchasing locally made products.

Economic Stimulation

Buying Australian-made products directly contributes to the national economy. When businesses choose local suppliers, the money spent circulates within the country, fostering economic growth. An independent report completed for the Industry Capability Network shows that every $1 million of retained manufacturing business supports 10 full-time jobs and generates $333,900 in tax revenue. This local spending then leads to further economic activity and growth within the community.

Supporting Local Jobs

One of the most direct benefits of buying Australian-made products is the support it provides for local employment. Manufacturing is a key sector in Australia, employing over 900,000 people. By sourcing products locally, businesses help maintain and create jobs within the country. This is especially crucial in regional areas, where manufacturing jobs can be a significant source of employment. 

Australian-made Chief Executive Ben Lazzaro said even small changes consumers make can result in a huge difference for local businesses:

“When you buy Australian Made, you have a direct economic impact on the livelihoods of hundreds of thousands of Australians throughout the supply chain.”

Environmental Benefits

Purchasing locally made products also offers significant environmental advantages. Transporting goods over long distances contributes to carbon emissions and environmental degradation. By buying Australian-made products, businesses can reduce their carbon footprint, as locally produced goods typically require less transportation. Additionally, Australian manufacturers are subject to strict environmental regulations, ensuring that their production processes are more sustainable compared to some international counterparts. 

Highlighting the Impact

• Economic Contribution: The Australian manufacturing sector contributes over $100 billion to the national economy annually.
• Job Creation: Manufacturing supports approximately 900,000 jobs in Australia, with the potential to create more through increased local purchasing.
• Environmental Impact: Switching to locally sourced products can reduce carbon emissions.

Australia has in place some of the most stringent legislation guidelines and environmental policies for manufacturing and production processes. This means when you purchase an Australian-made product you can be assured that it has been manufactured using the highest quality resources and materials, the workers who have contributed to the making of the product have been treated and paid fairly, and the manufacturing process has been conducted with eco-friendly practices in mind.

For businesses across Australia, the decision to buy locally made products extends beyond patriotism; it is a strategic choice that fosters economic growth, supports local jobs, and promotes environmental sustainability. By prioritising Australian-made products, businesses can play a crucial role in building a resilient and prosperous national economy. The benefits of local procurement are significant and far-reaching, making it a sound investment for any business.

By choosing local, businesses not only support their community and economy but also pave the way for a sustainable future.

Flagworld is a proudly Australian-made and owned business, printing locally in Mulgrave, Victoria. We employ green practices including 70kW solar panels which generate around 70% of our electricity and working in partnership with Australian companies to divert textile waste from landfill by recycling fabrics in Australia. By working with Flagworld, you’re supporting local business and Australian families, while also helping to sustain our local economy. Ready to get started? Contact us today.