How to ride the outsourcing boom

Phil Ruthven is the founder of research firm IBISWorld. For many years he has tracked the boom in outsourcing and its effect on the Australian economy.

“People often forget sloth is one of the most underrated virtues. If you can resort to sloth, you’re doing the world a favour because you’re creating so many new jobs. One should never feel guilty about sloth, particularly if you’re a two-income earning family where you haven’t got much time when you get home anyway, but that’s one industry anyway. And of course businesses are still outsourcing like crazy as well and one of the fast growing industries is facilities management.

“In other words, all these people who own property, high rise buildings, all sorts of things, factories and warehouses, etc and are outsourcing the complete management of that. Whether it be utilities, whether it be its maintenance or its safety, or whatever. That’s becoming a very large industry. So servicing companies who are outsourcing is also a very fast growing area for people, so really there are jobs, opportunities and investment opportunities galore out there.”

To read more about Phil Ruthven and IBISWorld, click here.