Exploring and indeed entering export markets has the potential to expand your business, diversify your revenue and increase your profits. Doing so however usually demands significant time, money and commitment.
Facilitating and supporting export trade opportunities for small business is important to the Government’s growth agenda and various initiatives are in place for small business to access.
The government-owned specialist financier, Efic, delivering financial solutions for Australian exporters and their supply chain, produces a bi-annual Exporter Sentiment Index. The recent July 2017 Index reported that confidence about international opportunities among Australia’s small business exporters has grown since the last survey released in February 2017.
Over half of small business exporters surveyed (57 per cent) indicated that they are in a better financial position than 12 months ago – an increase of 6 percentage points, and close to two thirds (63 per cent) were confident that they will be in a better financial position in the next 12 months.
Efic delivers simple and creative solutions for Australian companies when their bank is not able to help. Their aim is to enable small businesses by helping them to win business, grow internationally and achieve export success with appropriate funding solutions.
The Export Market Development Grants program is another Government initiative aimed primarily at aspiring and current exporters by reimbursing up to 50 per cent of eligible export promotion expenses. EMDG Applications for the FY16-17 year is now open and close on 30 November 2017 with potential to access an extension to 28 February 2018 for an additional fee.
For further information on support available for your export activities please speak with your usual Hanrick Curran adviser or new clients please call 07 3218 3900 and ask for Jamie Towers.
Please note that this publication is intended to provide a general summary and should not be relied upon as a substitute for personal advice.