Boat builders up there with car salesmen!

4:39 AM Tue 6 Jan 2009 GMT

'Along with prawn fishing, boat building makes the list of risky businesses for 2009.' .

Australia's list of the top 10 most vulnerable industries for 2009, according to a report by research house IBISWorld, includes car sales, boat building, real estate, catering, international airlines and prawn fishing.

Analysts ranked 500 separate industries on a scale of one to 10 to identify those most at risk of suffering a downturn in revenue. 'Seafood and prawns are viewed as discretionary items people will forgo in the face of lower incomes and rising unemployment,' said the general manager of IBISWorld Australia, Robert Bryant.

Meanwhile, the prospect of the New Year has done little to revive confidence among company executives, according to a survey of 1200 company executives published today by the credit ratings agency Dun & Bradstreet.

More than half of executives expect lower sales this year compared with last. As the jobs squeeze begins, one in five expect to have fewer staff come March than at the same time last year.

The safest industries this year are expected to be those related to aged or health care. Nursing homes are expected to experience a mini boom, thanks to a growing army of over-70s and government funding.

Veterinary services are also expected to remain in high demand, thanks to Australia's relatively high rate of pet ownership. 'Looking after pets is an emotional expense, which means most people are willing to sacrifice something else to seek treatment for their pets during difficult times.'

The report also identifies a few surprise safe haven industries, including child care and cosmetics. 'Although they might seem discretionary in nature, cosmetics are a luxury consumers are reluctant to give up, even in times of economic distress.'

The Top 10 most risky. Source: IBISWorld
1 Tyre manufacturing
2 Car retailing
3 International airlines
4 Real estate agents
5 Boatbuilding
6 Silver, lead and zinc ore mining
7 Investment banking and securities brokerage
8 Bricklaying
9 Catering and food service contractors
10 Prawn fishing

by Jeni Bone

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Boat builders up there with car salesmen!

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