Are you thinking of growing your business by exporting your products or services?
There can be many advantages to this including:
- increased sales, increased profit and increased production;
- improvements in performance and competitiveness;
- better utilisation of existing facilities—resulting in lower average production costs;
- balanced seasonal fluctuations;
- distribution of risks; and
- reduction in dependence on local markets.
Exporting companies grow through exposure to new ideas and management practices. They are, on average, more profitable than their non-exporting competitors. Their businesses are more likely to develop improved marketing techniques and the skills base of their personnel develops faster through adaptation to new technologies and improved performance standards.
How to get started exporting?
As a successful business you will already be aware of the need for solid preparation before venturing into a new market. Before you start exporting your products or service you should consider:
- learning the basics of exporting;
- getting advice on the first steps;
- getting involved in networking events, listen and talk to other exporters;
- developing an export strategy as part of your business plan;
- conducting detailed market research;
- devising a marketing plan;
- ensuring your website is up to speed;
- developing a risk management plan;
- visiting the market first if you can; and
- getting advice on legal issues pertaining to exporting.
Where can I get help?
The ACT and Australian Governments offer a number of programs and services to help your business to export.
Global Connect is a single program interface for the various export and trade development activities supported by the ACT Government. This includes:
- The Trade Connect grant program providing funding to emerging Canberra exporters to support trade development activities.
- The ACT Exporters’ Network which provides private sector leadership and network opportunities for new and experienced exporting companies.
- The Trade Mission Program, an annual outbound ministerial-led mission providing companies with support in new markets. Details of upcoming trade missions will be provided on the Global Connect page.
- The ACT Chief Minister’s Export Awards, which recognise excellence in export performance. These award feed into the National Export Awards .
Visit the Global Connect page to find out more.
Women in Global Business
The Women in Global Business (WIGB) program is a joint Australian, State and Territory Government initiative.
Businesses owned and operated by women are one of the fastest growing business segments. The WIGB program aims to increase female participation in international trade and deliver greater economic benefit and job creation. To women in business it offers a central source of information and resources, support and connection.
Visit the Women in Global Business website to find out more.
Export Market Development Grants (EMDG) Scheme
The EMDG scheme, administered by Austrade, provides assistance to SME Australian exporters developing export business by repaying part of their promotional expenses. Grants are subject to strict eligibility criteria.
Visit the Austrade website to find out more.
Export Finance and Insurance Corporation (EFIC)
The Government-owned EFIC provides financial support to exporters and onshore contractors working on export-related projects. EFIC works alongside banks and supplements the availability of their financing to enable these companies to capture business opportunities that may otherwise be beyond their financial reach.
Visit the Export Finance and Insurance Corporation website to find out more.