Exporting is big business for Australia, and small and medium enterprises (SMEs) are the ones leading the charge.
So says research released by the Australian Trade and Investment Commission (Austrade). Austrade highlighted that SMEs make up 93 per cent of Australian exporters, an indication that business size is not a barrier for a business looking to export their products.
“It’s not uncommon for small businesses to think they are too small to start their export journey,” said John Hopkins, Managing Director & CEO at Export Finance Australia. “The reality is that Australian businesses of all sizes export their goods and services overseas. It’s more a matter of having the confidence to push ahead with the right product, for the right market and at the right time. It’s never too early to start thinking about exporting, and it’s often an overlooked opportunity for small businesses.”
Austrade data also noted that exporting is associated with a higher probability of a business’ survival and resilience to economic shocks, thanks to a more diversified business strategy that export brings to the table.
“There are many ingredients for export success: courage, determination, access to finance,’’ Hopkins said. “We can help with the latter, but it’s always a fantastic sign when a small business approaches us because it shows they’ve got the determination to see the process through.”
Export Finance Australia has been known for providing financing solutions and resources for businesses looking to start their exporting journey. It has also sponsored the annual Australian Export Awards for 29 years, working alongside Austrade to celebrate the achievements of exporters regardless of business size.
Meanwhile, Austrade has its Go Global Toolkit, which offers a step-by-step to exporting for businesses that are either keen on starting their export business or looking to export to a new overseas market.
