Local knowledge major challenge for exporters: survey

A lack of information on areas such as local culture, business practices, language, consumer requirements, local regulations and tariffs are the most prominent challenges of doing business in the most difficult overseas markets, according to a survey commissioned by the Export Council of Australia.

Australia’s International Business Survey 2014 (AIBS 2014), highlighted that information gaps remain critical to Australian businesses as part of their future expansion plans.

“The current top five export markets are the United States, China, New Zealand, the United Kingdom and Japan, indicating the continuing importance of advanced economies for Australian companies engaged in international business,” the report said.

However, the ranking of current top export markets varies in importance according to industry and information gaps remain critical to Australian businesses as part of their future expansion plans.

“Despite a sluggish world economy and strong currency, 74 per cent of respondents indicated plans to expand into two or more markets over the next two years.”

Download the Highlights Report, which provides a detailed overview of the results or the complete Survey Report.

AIBS 2014 is the most comprehensive investigation into Australian international business activity in more than 15 years. Capturing data from more than 1,600 Australian exporters, the report provides unique insights from a diverse range of businesses – small, medium, and large; primary, secondary and tertiary.