Australia’s international business survey 2017: report (original) (raw)
This study involved an in-depth exploration of how Australia's IABs engaged in international trade, including their access to finance, their use of FTAs and associated procedures, any barriers they have encountered along the way, and other areas, key findings include: Respondents seeking to access finance: A total of 58% of respondents did not apply for finance while 35% did. Approximately 60% of respondents who applied for finance were successful while 40% were unsuccessful. Accessing finance from owners/family/friends was the most important source of finance for those who did not apply for funding. Respondents who were unsuccessful in obtaining finance attributed this to not having an adequate cash flow and that high levels of security were required to obtain funds. Respondents involved in FTA activity: 89% of respondents are exporting goods and/or services to countries with which Australia has an FTA in place ('FTA markets'). 61% are exporting goods to FTA markets and 66% are exporting services to FTA markets. 23% are exporting goods only, 28% are exporting services only and 38% are exporting both goods and services to FTA markets. FTA export activity by industry: Respondents from the manufacturing sector were the largest sector to exporting both goods (46%) and services (25%) to FTA markets. The combined ASEAN region was the top FTA market destination for businesses in all sectors except two: agriculture, forestry and fishing, and wholesale trade. China was the top FTA market destination for businesses in both of these sectors. The benefits of FTAs: Respondents reported several benefits to Australia's FTA network beyond increased exports, including 'making sales not previously permitted' and 'recognising Australian standards'. 40% of respondents who are exporting to China and 31% who are exporting to Thailand were aware that the company's export sales benefited from the FTA. Most firms that reported they 'do not gain export sales benefit' from an FTA are not filling out paperwork to claim a benefit. Many respondents that 'don't know' whether they receive an export sales benefit from an FTA, are outsourcing their FTA documentation.
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