Explore Export – Australia
Ahead of UK Trade & Investment’s ExploreExport 2014 event at Newmarket Racecourses on November 11, Business Weekly spoke to Jim Thompson to get his thoughts on how East of England firms can make the most of exploring the possibilities of doing business in Australia.
1) What would be your advice to UK businesses looking to do business in your market for the first time?
Do your research; understand the Australian market and learn how it differs to the UK. Be clear about your unique selling point (USP), how does it differ from what is already available in Australia? Utilise any connections you have to or in Australia and develop a strategic plan for your market entry.
2) Why is now a good time for UK firms to be looking to do business in your market?
The Australian economy is healthy and consumer confidence is high. Australian’s are receptive to new products, early adopters of technology and have high disposable incomes. As the focus shifts away from the decades of mining boom new opportunities are being created and there is a renewed interest in other sectors. There are many significant projects underway and an impressive pipeline of future projects covering highways, airports, rail and new developments. Australia is a springboard into Asia, with high levels of Asian language speakers, close proximity and similar time zones.
3) What are the key opportunities for UK companies looking to approach your markets?
Australia is buoyant in many areas but the biggest opportunities for British companies would be within the following areas:
• Food and beverage
• Cyber Security
• Professional Services
• Infrastructure – Roads, airports
• Mining, Oil & Gas
• Bio-tech/life sciences
4) For companies coming to explore your market what sort of support can you offer to help them develop their exports in your market?
UKTI Australia can provide market research, facilitate introductions, create warm or cold contact lists, plan meeting schedules for exploratory business trips, build brand through PR, conduct webinars about general and specific topics, encourage networking through the British Business Network, host events, i.e. seminars, round tables and cocktail receptions to launch UK businesses in Australia. We are also able to undertake bespoke projects that can be tailored to each company’s individual needs.
Email: uktisydney [at] fco.gov.uk (uktisydney [at] fco.gov.uk)
• Commercial Officers from British Embassies representing more than 60 global markets are visiting Newmarket on November 11 to share detailed export advice. They are highly experienced market specialists who provide valuable insights, direct routes to market and new business opportunities aimed specifically at East of England companies. For further information about ExploreExport visit www.exploreexport.ukti.gov.uk/Newmarket.aspx