Australia’s continued economic relationship with China is showing little sign of slowing down, with the country – our biggest trading partner – investing in Australia at a level not seen since before the global financial crisis.
There are, undoubtedly, valuable export opportunities for Australia’s small business sector not only in China but also in the United Kingdom, the United States and Malaysia (to name a few overseas partners). However, for some small businesses, the perception can be that the export market is difficult to access and full of obstacles. So, how can your business benefit from export opportunities?
DO YOUR HOMEWORK
As part of your export strategy, you must, as a first step, conduct significant research into the country you want to establish export opportunities within. There are numerous established business networks within Australia that can be utilised to help you to decipher whether in fact exporting into a selected country makes good business sense.
Austrade’s TradeStart has been established to support small businesses by providing local assistance and access to its own extended network resources. Additionally, a field visit to establish personal relations with potential export partners is essential as part of your research, partially negating the risk factors that must be identified before proceeding with your plan. Read more