Industry Analysis & Industry Trends
The Procurement Outsourcing Services industry has enjoyed buoyant conditions over the five years through 2014-15. Industry revenue is estimated to grow at an annualised 10.2% over the period to reach $93.1 million. With the industry's markets being highly diversified, it has benefited from the growing number of Australian businesses. These businesses are also increasingly outsourcing their activities, which has supported demand for outsourced procurement services.
An overall increase in business confidence has backed growth in procurement activities and volumes. Some of these activities are outsourced to the industry, benefiting industry revenue... purchase to read more
Industry Report - Starting a New Business Chapter
The industry is largely self-regulated, which means that compliance-related barriers to entry are low. Other barriers to entry are considerable, however, and relate to the need for industry participants to establish credibility with clients. For example, potential new entrants need to be able to attract appropriately qualified staff, often with niche knowledge relating to the major markets an enterprise hopes to target.
Connections to international networks for procurement are also critical, as the supply chains of Australian companies become increasingly globalised. Potential new entrants need to develop an understanding of overseas and domestic regulations surrounding import and export of goods... purchase to read more