Small Australian businesses are very successful in selling overseas, but only 27% of them have explored international markets yet.
According to a paper recently published by the Australia Post, small businesses with overseas customers have a much higher overall average annual turnover than companies that only focus on Australia ($340k compared to $291k). Going beyond boarders allows them to multiply the amount of potential customers, no matter if selling to consumer or business markets.
Ecommerce and new technologies are drastically driving this change, making overseas markets accessible and allowing Australian SMEs to reach a much broader clientele. In addition, the wide range of information and resources Australian businesses can draw on assists them in setting foot in overseas markets more easily.
The US, New Zealand, UK, China and Indonesia already benefit from Australian exports of small businesses. Exports to many other countries are increasing.
Major exports from Australia include:
- Fashion products like men’s and women’s apparel and accessories (bags, jewellery)
- IT/computer and photographic equipment
- Travel goods (bags, luggage)
- Supermarket goods and FMCG
- Healthcare products
The paper highlights that despite bright prospects for small businesses, 73% are still not selling overseas. These could be missing out as the benefits of shipping goods to international markets in most cases outweigh the costs.
For more information please visit the following page: http://image.email.auspost.com.au/lib/fe6415707c66047a7215/m/4/Small_Business_International_Whitepaper.pdf