SMEs to benefit in Asian century

Australian small businesses face challenges competing internationally but have significant growth potential in Asian markets, according to the newly-released government white paper, Australia in the Asian Century.

The white paper reveals that Australian businesses are poised to benefit from rapidly growing demand in emerging Asian markets if opportunities are maximised. Economically, this refers to Asia's appetite for Australian resources, health, education, tourism, financial services and food products, but beyond economic gains there are also opportunities for relationship building and cultural engagement.

"The Asian century is an Australian opportunity. As the global centre of gravity shifts to our region, the tyranny of distance is being replaced by the prospects of proximity. Australia is located in the right place at the right time-in the Asian region in the Asian century," stated the white paper.

Small businesses in particular, will be supported to take advantage of this shift in gravity, through the provision of practical in-market advice, improving access to finance, and increasing governmental support for exporting firms.
"Many small Australian businesses can see the potential of the Asian markets, but don't know how to take advantage of the opportunities," said Small Business Minister Brendan O'Connor in a media statement.

"We appreciate that small businesses face special challenges competing internationally because of their size and limited access to finance, international contacts and knowledge of international regulatory requirements."

"Australian businesses are in the right place at the right time to take advantage of the fastest growing region in the world, especially as the National Broadband Network opens up access to online markets. Our small businesses need to be supported to ensure that they benefit from the opportunities on their doorstep."

Connect with us to receive updates throughout the day:

Like us on Facebok Follow us on Twitter

Dun and Bradstreet AustraliaTop of page Dun & Bradstreet Australia Pty Ltd 2015 | D&B Small Business    *About Us    *Sitemap    *Advertise    *Privacy    *Terms & Conditions