Global markets are vital to many businesses. Overseas trade and investment helps generate jobs locally and nationally creating billions of dollars for the NSW state economy.
Growing your business through exporting:
To find out if exporting is right for your business, you need to thoroughly research your options which takes time and resources. If you are ready to export, you need to research how foreign markets work and how your business can successfully trade in these environments.
However, a wide range of assistance, specialist advice and education programs are available to help you make the most of global markets. Expanding your market overseas can mean bigger profits and bigger risks. Successful exporting doesn’t happen by accident–it needs careful planning and commitment.
Getting into the global marketplace can be a very effective growth strategy for many businesses. It can work for your company, too. Research shows that firms that export grow faster and fail less often than companies that don't. The employees of exporters and their communities are also better off.
There are many good reasons to take up the challenge of exporting. Being active in the global marketplace gives exposure to your company to new ideas, management styles, marketing methods and ways of competing. A business can improve its growth prospects, develop greater skilled and productive staff, as well as adopt new technologies and best practice techniques.
For Pittwater businesses helping companies to grow their exports is one of the key functions of NSW Government’s Trade & Investment programs. Through their export programs, NSW exporters and would-be exporters can learn more about the basics of exporting, visit target markets and expand internationally.
Importing goods can help your business meet its goals and provide services to customers that may not otherwise be available locally. To ensure your importing is successful, you need to be aware of government regulations, including clearance by the Australian Customs and Border Protection Services (Customs) and duty taxes.
You will also need to know about import permits, quarantine permits and treatments that apply to imported goods. If you don't follow the correct steps and regulations, you will risk breaking the law and not receiving your imports.
Major things to considers as a business owner: