Money makes the world buy a round 10:55am 16.04.08

Launched today by Minister for Foreign Affairs Stephen Smith, the Global Readiness index produced by the Export Finance and Insurance Corporation (EFIC) reveals that 92 percent of companies export to increase revenue, with only 29 percent saying they do it to reduce costs.

The index provides a snapshot of what drives SMEs to export, as well as identifying some of the barriers to export. Over half of the 500 respondents said that easier access to finance would allow them to expand further and faster.
 
“Australian companies … recognise offshore expansion is a strategic path to market and revenue growth,” said Smith. “These results will help us address the barriers and support expansion.”
 
Ian Murray, executive director of the Australian Institute of Export, said the index also provided a good benchmark for the participants. “I must commend EFIC for not only undertaking research to build a Global Readiness Index, but for being prepared to share the data with those who assisted in the study.”
 
For a copy of the GRi, visit: www.efic.gov.au/gri/report