The Sharing Economy
The way consumers access goods and services is changing. The "sharing economy" is gaining momentum and threatens to disrupt the basis of traditional economic models for production and consumption. Uber, Airbnb, Freelancer and others are leading the way. Professional services and government relations consulting must find a way to adapt. The Government Relations Industry is ripe for disruption. It has been forced to change and adapt because of regulation. Regulation is diluting its impacts and making traditional methods less effective.
The Sharing Economy has been described by Time Magazine as one of the “ten ideas that will change the world” and by Forbes as a new "disruptive economic force". But what exactly is it and why should we take notice?
Often described as a "peer economy" the increasingly popular sharing economy started out as a business model, where people use niche websites to rent out their personal assets, such as cars, homes or tools. In the UK, it is estimated that the sharing economy is worth around AUD$ 910 million and is growing by 25 per cent each year.
While more businesses are adapting their models to be a part of the sharing economy, Statesman Institute is the first to do so in the government relations industry.
China has been identified as a key target market as strong economic links will be further enhanced by the Free Trade Agreement signing in June by Trade and Investment Minister Andrew Robb.
China is Australia’s largest export market for both goods and services, accounting for almost a third of Australia’s total exports, and a growing source of foreign investment.
Our Chairman visited China last month and briefed senior Austrade officials who were very receptive to the Statesman Institute business model and saw the value for clients. Officials were impressed by the trade, economic and foreign investment credentials of our foundation group of experts including on the ground diplomatic and analytical experience going back to 1967 laying groundwork for the first Australian Prime Ministerial level official visits in 1973.
Our website will soon have Chinese translation to assist the development of referral partnerships with local consulting and law firms.
Our number of consulting experts grows daily as we expand into networks beyond the foundation group. Un-promoted applications are coming in online via the website platform for potential experts to join our network.
Interstate recruitment is progressing well and we continue to receive overwhelmingly positive responses from potential consulting experts.
Word is spreading about the Statesman Institute offering. Briefings have been provided to senior executives at Big 4 accounting firms, corporate leaders, universities, business organisations, local government, public affairs firms and major not-for-profit executives including Uniting Care and Mission Australia.
We expect a demand for our services as predictions of an early Federal Election suggest that campaign mode could commence soon, with a view to a March 2016 election date, to avoid the handing down of another Federal Budget.
Clients understand the need to mitigate political risk and interpret the array of policy announcementsthat will form the platform for both major parties.
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