foreign markets. The most important initiative the government has in place for manufacturers is the R&D tax incentive program. When it comes to overcoming the barriers of doing business overseas, every foreign market has differences, but globalisation means many markets are addressing excessive bureaucracy for exporters by standardising rules. There’s never been a better time for Australian businesses to tap into export markets.
Australia. And you have to manufacture something that has a difference. That means having key staff who are willing to get on airplanes and research markets and find opportunities. They also need to be able to act on the outcome of that research by being willing to adapt the product to meet those market needs and have an open mind to opportunity and a sensitive consciousness to risk. It’s a mistake to try to penetrate every market all at once. Start with the one that shows the most promise. That might not necessarily be the Asian growth market; it might be somewhere obscure like Uruguay or a state in the US. From there, get traction in the market, build your brand, understand
the business culture and market, then expand as you gain confidence.
Overcoming barriers There are many tools we have used to help us overcome challenges. As an exportorientated company, free trade agreements are very beneficial in eliminating tariffs and duties. The APEC travel card makes travel to Pacific rim countries a breeze and is a great innovation for business people who are forever on and off airplanes as it provides pre-visa approval for all participating countries. Efic has fantastic finance products available, which we present at every sales meeting with offshore customers. Austrade has representative offices worldwide that can assist any Australian company to access
GP Graders’ three export lessons • Manage risk – be that payment, geographic, supplier or currency risk. Don’t think honesty is universal. • Don’t waste time and money trying to enter markets if you don’t get early traction; there are many other markets on offer. • Asia is not the only avenue for success. There are many more culturally aligned countries that might be a better fit for your product. We have found success in Greece, Turkey, Italy, Chile, US and Canada.