A REVIEW OF NEW BUSINESS EMERGENCE IN THE BUILDING AND CONSTRUCTION SECTOR AND RECENT AUSTRALIAN EXPERIENCE

Abstract

This article reviews the value of new business activity to industry growth as relates to the building and construction (B&C) sector. A brief empirical analysis of the pattern of new business growth in the Australian B&C sector between 1997 and 1998 is presented herein. It is found that significant new business entry has taken place, in industries at both ends of the innovation spectrum and that further research is required to flesh-out the modest empirical work contained in this study. The findings indicate that, in particular, further research is needed in mapping the relative innovativeness of the B&C sector to more accurately interpret the value of particular patterns of new business activity; comparison of international new business growth rates; and examining longitudinal data.