Export Tips to Take Your Company From Australia to the World

 

Introduction

Exporting goods from Australia can significantly increase your turnover and profits as you expand into new, international markets. Although there are challenges with international trade and exports, there’s plenty of guidance and support available if you know where to look. Our introductory guide will help you understand what you’re getting into, and link to some of the best resources to help your expansion plans go smoothly.

 

Understand if you have the time, energy and resources to start exporting

Australia Export TipsExporting to an international market can be difficult. There are lots of areas you’ll need to consider, regulations you’ll need to follow and costs you’ll need to pay. It’s vital that you and your business has the capacity, commitment, expertise and resources to pursue exporting outside Australia.

Some areas to think about:

  • Australian rules and regulations on export.

  • Rules on import, tariffs and taxes for the country you’re exporting to.

  • The costs of exporting - Logistics, shipping, freight handling, travel, insurance and more.

  • The division of responsibility between you and any importers.

  • Market research to understand demand in another country.

  • Costs of modifying products for the new market.

  • Planning all the areas you’ll need to cover for export.

 

If you don’t have the expertise yourself, it’s essential to hire people who do. They will be able to guide you through the challenges of international expansion. You can also look at hiring a specialist export agency that can handle some of the complexities on your behalf.

 

There’s a very helpful “Export Readiness Indicator” tool that you can use to find out if you’re ready to export, and identify any gaps in your current business you’ll need to plug before international expansion.


 

Put the time and management expertise in place to deal with exporting

The challenges of exporting will take your attention away from your domestic operations. Make sure you’ve got people in place that can handle the existing side of the business while you focus on the new export market. Ideally, you should have strong domestic sales and an expert business operations team in place before you start looking at exporting.

 

Make sure you’re financially prepared for exporting goods

Exporting goods can challenge the financial reserves in your business. Make sure you’ve got enough money in the bank to cover all of your domestic operations and keep everything running smoothly. Separate out your export budget into another area so you won’t need to touch the money you need for your regular business operations.

 

Understand that exporting is a great way to build your business, turnover and profits

Even though exporting can be challenging, it’s one of the best ways to grow your business and your profits. Research shows that businesses with an international market are more profitable than those who only cater to Australian customers.

 

Explore and use all the resources available to you

AusTrade was setup by the Australian government to give Australian businesses access to all the knowledge, support and resources they need to get ready to export goods. There’s a wealth of information available on AusTrade’s website including downloadable guides, tools and resources so you can cover all the essential areas. These include:Exporting Resources Guide

 

The information in these guides is excellent, and you should spend time studying them in detail so you can understand the various nuances of international trade.

 

Understand the support that’s available

In addition to providing training and guides, AusTrade also has a number of trade services that can help you. These include:

  • Information and advice on doing business internationally including marketing briefs, cultural tips, local commercial practices, strategy, marketing, promotion and more.

  • Tailored services including specific market and country research, partner and customer profiling and identification and market introductions.

  • Referrals to specialist service providers in Australia and oversea covering areas like lead generation, laws, accounting, financial services, networking and industry specialists.

 

Understand the taxes and tariffs you’ll need to pay

  • You won’t normally need to pay Goods and Services Tax to the Australian authorities on exports out of the country.

  • You may need to pay other processing fees for exporting goods.

  • You will typically need to pay import duty, customs fees, and other taxes when you import into another country. There’s lots of great information on the main international markets here.

 

Learn about prohibited and restricted exports

The Australian authorities do restrict or prevent some types of goods from being exported. These include some biological materials, some chemicals, some animal and plant species, weapons, pharmaceuticals, and more. You can find a complete list here. It’s also important to understand the rules around quarantine. You should also learn what Australian Customs needs from you if you want to export.

 

Find out about financial assistance

Financial Assistance for ExportingThe Australian government is keen to help businesses expand overseas. To achieve this, they have several incentive schemes to help you get financial assistance:

Exporting internationally doesn’t have to be daunting, as long as you know what you’re getting into. Please do read through all of the guides, understand the support that’s available to you, ask questions, and hire the right people to move your business forward. Expanding into international markets can be very lucrative as long as you have the right guidance and management.

 

Receiving payment from overseas customers: Foreign Exchange for Exporters

If you have overseas customers who are paying you in foreign currency, the exchange rate you receive could be eating away at your profit margins. Using World First is a great alternative for receiving money into your Australian dollar bank account. Their exchange rates and $0 fee structure will allow you to maximise your overseas receipts. They also offer a e-commerce solution if you are selling your products online to overseas markets.

Accounts such as World First's World Account allow you to streamline receiving and making payments if you're dealing multiple currencies. It's yet to be released but we've taken a look at what it will be like here

 


Exclusive Fee Free Offer

World First is a trusted partner of The Currency Shop.

Click on this link , sign up and never pay a transfer fee for your international money transfers. Ever.

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