What is Exporting?
For many Australian businesses the domestic market offers limited opportunities. In order to expand and increase profitability, businesses often look overseas for new markets for their products.
Exportable products can include goods, services or intellectual property. A product does not need to physically leave the country in order to be considered an export, provided that it earns foreign currency. For example, in-bound tourism is an export, as is education. In recent years, rapid technological advances have also meant that intellectual capital can be transferred internationally, even without the originator leaving Australia.
Australia’s success in the mining services sector is a good example of how Australia has developed an international reputation for the provision of consultancy services. In addition to traditional business consultancy opportunities many businesses now participate in international development programs funded by the Australian Government through the Australian Agency for International Development (AusAID) and the development programs of other major donor countries. Consultants also work with projects funded by regional development banks.
As with any business venture, however, exports operate on a supply and demand basis. A product or service must have a willing buyer in order to enter the international marketplace.
Also crucial to export success is the sustainability of the venture. Through
preparation, commitment and perseverance you will help to minimise the inherent
risks and increase your chances of success.
