Exports are of huge importance to the Australian economy, making up 19.8% of our GDP in 2015, according to the World Bank. But success with export markets is not limited solely to the agriculture and resources sectors and nor is it limited only to large businesses. There are significant opportunities for SMBs to succeed in Read More…

Efic and the Export Council of Australia (ECA) have partnered to launch an app that provides new and growing exporters, particularly small to medium businesses, with need-to-know information.  According to Andrew Watson, executive director, export finance at Efic, the Export Essentials app alerts businesses to details often overlooked when planning to export. “Exporting can be a complicated business, especially Read More…

Any inefficiencies within your business can eat away at your bottom line and makes things a lot harder than they should be, which why it makes sense to find some ways to streamline your operation. There are many aspects of your business to evaluate from using an international parcel service to keep control of your Read More…

Despite globalisation removing barriers to overseas expansion, it appears that SME owners are not yet convinced of the benefits. Recent data from Bentleys, a mid-tier accounting and business advisory firm, found that only 19% of Australian and New Zealand businesses operated in overseas markets. The latest The Voice of Australian Business survey, a bi-annual national survey of SMEs, revealed that a majority Read More…

Australian small businesses Frankland Islands Cruises and Intersective are among the first to benefit from Efic’s new Small Business Export Loan. The latest finance offering from Australia’s export finance agency, is designed to meet the needs of small businesses seeking export finance, with a focus on convenience and speed throughout the online application and approval process. The Read More…

As competitors and market expectations keep moving ahead, standing still as a business means you’ll be in danger of being left behind. The focus for many organisations then is on how to turn business process improvement into something that is truly embedded in the way the business runs. The real value comes when business process Read More…

Running a small business is a stressful job at the best of times but in 2016, small business owners are having to navigate the treacherous waters brought about by a rapidly changing and ultra-competitive market.   A Westpac report published recently found trading conditions for Australian SMEs collapsed 14.4% over the second quarter this year. Read More…

Recent Australian Bureau of Statistics’ export figures show that Australia’s manufacturing industries continue to look overseas for export opportunities. According to ABS, 300 Australian manufacturers began exporting for the first time in 2015-2016. With international demand for Australian-made quality products, this is a trend that is likely to continue. In line with this trend, according Read More…

The current federal government is more popular amongst SMEs than its predecessor but an increasing number of business owners are dissatisfied with the Coalition’s support, according to the latest MYOB Business Monitor   The bi-annual national survey of over 1,000 SME operators revealed that since being elected to power in September 2013, the Coalition government has Read More…

For small business owners, the intrigue of taking their products and services off shore can be too exciting to ignore.  But among all the hype that international business can bring, there are still numerous risks to assess and manage if you decide international trade is right for you. Perhaps the most important area to consider Read More…

Innovation without a market is like cooking a meal for one – you can still feel satisfied, even if no­ one else would eat it. But what happens when you start serving your cuisine du jour to others? The decision to innovate can be a difficult one, as innovation typically involves a longer ­term commitment of Read More…

Everybody who launches a small to mid-size business of their own these days hopes to hit the bull’s eye as soon as possible. The problem is there are literally millions of other people aiming at the same target. This produces competition of millions, meaning the risk of failing to stand out is high. Here are Read More…

Startups that fail to exercise resource parsimony or understand the job their customers want to get done will not survive against larger companies and risk falling afoul of investors, a prominent strategy expert has warned. In Sydney last month to participate in the World Business Forum (25 to 26 May), Rita McGrath, a professor at Read More…

Hey, this is life Jim – and it is just as you know it! Yes, get used to it. As a business owner you’re always going to be taking risks, whether it’s hiring someone new, taking a lease on a new office, or something as simple as taking out advertising space for that new product launch. Read More…

There’s no going back. From big data to big decisions, artificial intelligence and automation, to explosions in technology and in choice, Australian businesses have a decision to make – disrupt or be disrupted. While the term ‘disruption’ has become commonplace in workplaces across the country, we can’t ignore the fact that where we were yesterday Read More…