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Exporters seek global growth: survey

Exporters seek global growth: survey article image
More than three-quarters of businesses with an offshore presence are looking to expand, with 44 percent of those looking to do it in the next 12 months, according to the latest results from the annual Global Readiness index (GRi) conducted by government credit agency Export Finance and Insurance Corporation. The index also showed that for businesses without existing offshore operations, 26 percent planned to take the initial global step, eight percent in the next 12 months. The GRi further revealed that finance remains one of the key barriers to global growth, with 43 percent of respondents indicating that it hindered expansion, with more than a quarter saying it was their top barrier, though this was comparatively better than 2009, when 58 percent nominated finance as a barrier. The results indicate that global credit conditions have eased, although many businesses still use retained earnings to fund global growth. More than 900 businesses responded to the survey, one of Australia's most comprehensive insights into exporters' experiences of going global, covering the drivers, destinations and barriers to international business. For further analysis, see www.efic.gov.au/gri.

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