Benefits of exporting
Exporting can be a profitable way of expanding your business, spreading your risks and reducing your dependence on the local market. Austrade research shows that, on average, exporting companies are more profitable than their non-exporting counterparts.
Exporting exposes you to new ideas, management practices, marketing techniques, and ways of competing that you wouldn’t have experienced by staying at home. All this considerably improves your ability to compete in the domestic market as well.
By going overseas, you can become more efficient and increase your productivity. Exporting companies have better growth prospects, highly skilled, highly productive staff and tend to adapt technology and best practice techniques faster.
Even if you have a limited domestic market, you should think about exporting - around a quarter of new exporters are born globals. Global brands can be built from small local companies – especially in rural and regional Australia.
Export can provide growth and profit. Research has shown that exporters:
1. Pay their staff, on average, $14,700 a year more than non-exporters
2. Provide a safer and healthier workplace
3. Offer more training and career development opportunities
4. Tend to be better in tune with new and changing technologies than their domestic counterparts
The Australian community also reaps the rewards from international trade as exports:
1. Increase the standard of living for every Australian
2. Account for around 20 per cent of Gross Domestic Product (GDP)
3. 1.7 million jobs (one in five) depend on international trade (one in four in rural Australia)