Our small entrepreneurs must strive for global reach

The Australian, July 7, 2018

In one sense the Australian people and nation don’t really exude entrepreneurial values. With the exception of Macquarie Bank, which was formed in 1970, we haven’t created a new truly big business — defined as a top-10 publicly listed company ranked by market capitalisation — since Woolworths was formed in 1924. BHP, the four big banks, Wesfarmers, CSL and Telstra were all formed more than 100 years ago.

Yet in the US, half of that nation’s 10 biggest businesses by the same measure — including Apple, Google, Amazon, Facebook and Microsoft — were formed in the past 30 years. Microsoft was founded by Bill Gates in his parents’ Seattle garage. Today it is the fourth biggest business in the US. READ MORE: https://www.theaustralian.com.au/author/Bernard%20Salt