Expand your business into Australia and NZ by Paul Noon, Director of Trade UKTI Australia and NZ on 24-Aug-2011

T here is little doubt that the UK economy and UK business have faced a turbulent few years as local and international markets have been impacted by the global financial crisis. While the current situation is still uncertain, the future shows promise, and many of the economic signs are positive. The UK’s economic recovery has super-ceded many other affected countries and now, with the enactment of the Government’s Plan for Growth, sustainable, long-term growth seems likely for our resilient economy.

It is time now for the resilient to become the ambitious.

Research by UK Trade & Investment (UKTI) has shown that companies which expand overseas have a far greater chance of survival in turbulent economic times. Such businesses have seen an average productivity increase of 34% with an 11.4% higher chance of survival. Australia is one destination which is growing in importance for British businesses. With population growth of 1.5% in 2010, impressive economic management, cogent usage of natural resources and increasingly close ties with the booming Asia-Pacific economies, Australia has not faced recession in the past twenty years, averaging 3% GDP growth in the past decade. The Australian economy continues to see increased productivity amidst low unemployment and low public debt and the record-high Aussie dollar greatly favours British exporters. Business expansion from the UK to Australia has faced similar growth and UK companies are taking advantage of the situation.

As more businesses have realised the opportunities in Australia, UKTI has continued to serve as a bridge for UK businesses into the market. Last year we helped over 1000 UK companies to investigate the potential of the Australian market. UKTI can provide personalised, in-depth market research and competitor analysis, fully-equipped business and office space, PR and market support, as well as connections to vital networks, communities, and different levels of government. As the UK economy recovers fully from recession, now is the time to take advantage of the stable and booming Australian economy.

The UKTI team across Australia and New Zealand stands ready to help.

Paul Noon is Director of Trade Australia & New Zealand, UK Trade & Investment: paul.noon@fco.gov.uk

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