Tune in to statistics

Here’s a news flash that will interest all start-up entrepreneurs: According to the Australian Bureau of Statistics, Australia’s beer consumption levels have fallen to the point where less than half of all booze consumed in Australia is beer.

It’s amazing news, I know. But the reason I am telling you is not because all entrepreneurs are soaks (I know at least two business owners who don’t drink during the week) but to highlight the wealth of information available at the ABS website.

Every single working day, the ABS puts out a statistical release about an aspect of Australian society or the economy.

Aside from the regular releases on unemployment, consumer prices, housing and economic growth, the site contains a wealth of demographic information on where and how people live, what services they use and what they buy.

For an entrepreneur who is in the process of researching a new market or industry, it’s invaluable stuff.

But even if you are not actively doing some research, keeping a watching brief on ABS releases can allow you to spot trends in your industry – or a related industry – before the competition.

So put in your favourites and keep a regular watch.

Get it done – today!