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This year’s Legatum Prosperity Index has been released, delivering mixed results for Australia with respect to our international competitiveness.
The Prosperity Index, dubbed the world’s only global assessment of wealth and wellbeing, ranked Australia in the top 10 for categories including economic fundamentals, democratic institutions, education, health, safety and security, personal freedom, governance and social. However, Australia fell to 15th place for entrepreneurship and innovation (page 26 of the report). Despite recent economic woes, the US and UK took the top two spots in that category.
According to the Legatum website, “… unlike other studies that rank countries by actual levels of wealth, life satisfaction or development, the Prosperity Index produces rankings based upon the very foundations of prosperity – those factors that help drive economic growth and produce happy citizens over the long term.”
As we’ve written about before, past economic downturns have proved fertile times for innovative companies that were prepared to commit resources to R&D and growth while competitors bunker down to ride out the storm.
The past 18 months has been the right time to start a new business. So the real question the Prosperity Index raises for Australia’s private sector is: Have we been sufficiently bold during the GFC to secure future prosperity in a competitive global economy?
Start-ups to enter 2012 Telstra Australian Business Awards
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Entries are open for the Telstra Australian Business Awards. The HTC Start-Up Award has been introduced for businesses operating between one and three years. Now in their 20th year, the Awards offer $500,000 in cash and prizes for small and medium businesses.
To enter or nominate a business visit telstrabusinessawards.com










Trevor Reply:
November 4th, 2009 at 2:12 pm
yes i think the attitude seems to be that if you arent actually currently starving or with both your legs blown off, then you dont have any real problems… people love to give to a charity that makes them feel better, but they dont want to contribute to helping their own, and many people cant seem to comprehend that some of us havent had the financial stability they take for granted… on top of this, the problem is compounded by people who actually believe that there is some kind of correlation between income & brains, and so they assume that if you had an idea that was worth anything, then you wouldnt be struggling financially.
at least you have your patenting done, i cant even afford that… which means i cant even talk to anyone about my inventions without risking being ripped off.
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