Dec 02, 2019Small Business

New Deloitte Report Shows Australian Small Businesses are Digitally Transforming the Natural Gas Industry

Australian small businesses in the natural gas industry supply chain are playing a key role in digitally transforming the sector, according to a recent report by Deloitte.

Research into the role and economic contribution of Australian small business suppliers to the oil and gas industry has found that the growing application of data-driven and automated technology has created an opportunity for innovation:

“Small businesses are generally able to be more agile in their innovation, which means they can collaborate with research partners and international providers to develop best-practice solutions, and then tailor their supply of new technologies to support efficiency gains for particular companies and projects.”

The natural gas industry is dependent on innovative technology and has been investing in digital technology to further improve productivity across all areas. Many gas companies are working with Australian small businesses in the technology sector to create a mutually beneficial working relationship.

Not only do small businesses have the opportunity to collaborate and learn about the resources sector, the innovative technologies that come from these partnerships creates new jobs and, in some instances, open the doors to global prospects.

Other key takeaways from the Deloitte report found:

  • Australian small businesses in the oil and gas supply chain contributed almost $1.4 billion to the economy in 2017/18
  • The industry employs around 10,500 FTE workers through small businesses*
  • Small businesses in the professional, scientific and technical services sector made the largest economic contribution ($324m)
  • Small businesses in the transport support services sector spent over 86% of their expenditure in regional areas.