Many Australian SMEs rely on importing goods into the country as part of their business model. In recent years, the range of services in place to help small businesses to navigate this process has also grown, from specialised accounting software to support this investment to new free trade agreements with regional economies.
The most recent in this range of support services has also been launched, with the Department of Foreign Affairs and Trade releasing a new publication specifically targeted to small businesses looking to trade overseas.
The magazine, entitled Business Envoy is published bimonthly, aiming to connect businesses looking to engage overseas countries with parts of the government which might be able to help them navigate this process.
Bruce Billson, the federal small business minister, underscored how important it is for companies to have the right advice when they trade with external markets.
“The global economy is evolving and becoming increasingly integrated,” stated Mr Billson.
“Access to relevant and timely information about international markets is crucial for growing enterprises seeking to capitalise on global trade opportunities – whether business are embarking on new ventures or expanding existing activities.”
This isn’t the only good news to be released regarding the potential for Australia’s importers and exporters. According to the Australian Bureau of Statistics, imports from overseas have grown by 3 per cent in the last quarter of 2014. Among the largest area of growth has been the increase in merchandise goods, with these up 4 per cent .
Exports have also increased in recent months, thanks to a rise in the quantity of non-rural exports to other countries. Trade in transport equipment, manufactured goods and mineral fuels have all played a part in pushing up this figure further.
With new support available for Australian importers and an overall increase in the quantity of trade entering the country, the outlook for SMEs in this space is certainly looking bright.