How can Australian small businesses tap into the international market whilst avoiding potential pitfalls? Anne Nalder, CEO & Founder of the Small Business Association of Australia was recently interviewed by Business Essentials Daily on how Australian Small Businesses can tap into the international market.
Moving internationally can be a difficult & complicated process, and many small business owners may be lost on what they can or can’t do.
Top tips on what to look out for when moving your small business into overseas markets:
- Australian goods and services have great demand internationally, and many small businesses may be missing out on great opportunities by only focusing on the domestic market.
- The Services sector is one of the fastest growing sectors internationally, and Australian businesses in this sector can export their services for a relatively low cost.
- Both the Australian Government and Australian businesses need to be adequately prepared for trade, and doing business again on an international scale once the pandemic has settled.
- Moving internationally can be a great move for small businesses – but it must be done the right way. Know your target markets, do your research. Is there demand for your product in specific international markets?
- How will you have to market your product differently to appeal to different demographics?
- Before embarking overseas, sole traders should update their websites, and look into becoming a company.
- Companies are viewed differently to a sole trader, and it can be beneficial to the perception of your businesses size when moving internationally.
- Websites are the international window to your shop. They will be one of the first aspects of your business international partners will see, and can easily raise red flags if they’re not up to date or well constructed.