Business Community (Australia)
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Financial Services district
a guide the the financial services district in Sydney
Sydney is the state capital of the city with the largest population in Australia, New South Wales. With over 4 million people inhabiting the area, Sydney was the first British colony in the country, established by Arthur Philip. This city is built around Sydney Harbour, home to iconic landmarks such as the Sydney Opera House and Harbour Bridge. Because the city is built on the coast of a body of water, several districts are located throughout Sydney, commercial areas for a variety of businesses.
One of these districts in the Sydney central business district, called “CBD” or “the City” by the locals. This district is the main commercial center in all of Sydney. It runs for about three kilometers from the Sydney Cove until the Central railway station in the south. Several parklands are located in CBD, such as Hyde Park, The Domain, Royal Botanic Gardens, and Farm Cove on Sydney Harbour. Governance over the central business district lies primarily with the local government over the city of Sydney while some aspects are controlled by the state government of the New South Wales.
As the CBD was first developed near the coast, the streets on the northern side are much older than the southern end of the district. The northern areas reflect the prevailing breeze and orientation to the Circular Quay during the first settlement near the harbor. The district also houses the Sydney Tower, the State Parliament House, and the Supreme Court of New Southwales. The retail shopping district is also in the central business district, along Pitt Street.
Because the CBD is primarily a commercial area, its skyline is made up of tall building and skyscrapers. The tallest building in Sydney is the Sydney Tower, which is over 300 feet tall, and houses Westfield Sydney, a high-end shopping center. While apartments make up some of the buildings, most of them are actually business headquarters of Australia’s largest companies, and even Asia-Pacific international companies as well. HSBC, Commonwealth Bank of Australia, Citibank, Deutsche Bank, and Bloomsbury Publishing all have their headquarters in the CBD.
Where to shop when in Sydney
Home to over 4 million inhabitants in 2010, Sydney is the state capital of New South Wales and is the most-populated city in Australia. It was established in 1788 at Sydney cove by Arthur Philip and was the site of the first British colony in Australia. It was built around Port Jackson – commonly known as Sydney Harbor. Sydney has some of the world’s most iconic landmarks such as the Sydney Opera House, which is a UNESCO World Heritage Site. One of the biggest and high-end shopping districts in Australia can also be found in Sydney. This district has several shopping centers and plazas.
The Queen Victoria Building built between 1893 and 1898. The QVB was a center of trade in the 19th century, complete with coffee shows, showrooms, and a concert hall. It was the ultimate business center for tradesmen such as tailors, mercers, hairdressers, and florists. After the building slowly deteriorated in the 1950s, it was restored to its former glory in the 1980s and now contains high-end fashion boutiques and brand-name shops. The QVB is located on an entire block on George Street and is Sydney’s most prestigious shopping center.
Westfield Sydney is a high-end shopping center operated by the Westfield Group, beneath the Sydney Tower. It occupies a space where the Westfield Centrepoint Shopping Centre, Skygarden, and Imperial Arcades once stood. The three shopping centers are undergoing renovation which will be completed next year in 2014. The area is currently home to luxurious shopping centers such as Castlereagh Street, Market Street, and the Pitt Street Mall. The Pitt Street Mall is located on the pedestrian section of Pitt Street, between Market Street and King Street. It has the most expensive rent rates in the world, making it home to high-end boutiques and flagship chain stores. Stores such as Esprit, Guess, Miu Miu, Gucci, and Zara are located on the Pitt Street Mall frontage.
Across Westfield Sydney is Westfield Sydney Central Plaza. It was the result of the redevelopment of the Grace Bros store in the CBD in 1998 and purchased by the Westfield Group in 2003. The plaza has eight levels and is connected to the Queen Victoria Building and Westfield Sydney, all part of the retail business district in Sydney.
Life insurance in Australia
The financial services industry is centred in the central CBD region of Sydney. One the largest players in the financial services sector within Sydney is that of the life insurance industry.
The life insurance sector has seen a significant increase in sales within Australia as a whole due to the overall exposure and knowledge of this type of insurance product within the greater Australian community. Life insurance is now being seen as an affordable and important product among financial product consumers.
For Australians that are considering taking out such a policy, there are a few simple considerations that must be taken into account as a bare minimum. The first of these is with regards to having a good overall knowledge of comarable products on the market. This is most often accomplished by a thorough life insurance comparison exercise. This can be performed by the consumer if they have the time and competance to it themselves. More commonly though, it's handled by a financial adviser who can present a selection of suitable life insurance policies for the potential client. The client can then benefit from the financial advisers financial services and economics background training and education, to help them come to an informed buying decision.
Another key piece of advice that goes hand in hand with this, is to ensure that you are getting good value for money on your insurance policy. This can be achieved in a variety ways. The more traditional method relates to the time-consuming process of individually calling all the leading insurance companies and getting individual quotes from each of them. An alternative method is to contact a company that offers free life insurance quotes. This generally involves you providing some brief information on their website so that they can prepare the quotes for you. In most cases, you will be able to receive about ten quotes from different insurance companies. Because you only deal with a single insurance broker, that broker is able to do the hard work of running around for you to get you the cheapest rate available. This is definitely a strategy that you should consider, in conjunction with advice from your financial planner.
Income Protection Insurance
where your retail business needs to be in Sydney
If you are a self employed worker in the city of Sydney, then income protection insurance is certainly an insurance product that you should consider.
For persons who are engaged in work under a Pay As You Earn (PAYE) arrangement, if you fall sick then you are normally covered for your wages by your employer (up until a agreed number of days per year). Similarly if you are injured whilst at work, then Workcover can provide financially assistance to you whilst you are unable to work.
However, for persons who work under a contract type arrangement, these benefits are typically not available. They will need to have some form of alternate income if such a need did arise. This is exactly where income protection insurance can provide assistance.
An insurance policy of this type can pay you up to 75% of your regular income, if you become sick or injured and are unable to carry out your normal work duties as a result. A policy of this type is especially important to consider as a Contract worker, when one considers all the fixed expenses that most persons need to pay each month - irrespective of whether they are actively working or not. Holding a policy of this type means that you can rest assured knowing that you have coverage if such an even were to befall you, and you were unable to work.
There are many income protection insurance Australia companies out there on the market today. Your financial adviser can assist you reviewing them and finding the one most suitable to your needs. Speak to your adviser today about this product type and see whether its the right type of cover for you.