Exporting can be a profitable way of expanding your business, spreading your risks and reducing your dependence on the local market.
Australian government research has shown that growth rates of output, productivity, wages and investment are consistently higher for continuous exporters. (Tuhin, R., & Swanepoel, J.A., 'Export behaviour and business performance: Evidence from Australian microdata', Department of Industry, Innovation and Science, Research Paper 7/2016, accessed January 30, 2019. Exporting exposes you to new ideas, management practices, marketing techniques, and ways of competing that you wouldn’t have experienced by staying at home. All this considerably improves your ability to compete in the domestic market as well. By going overseas, you can become more efficient and increase your productivity. Exporting companies have better growth prospects, highly skilled, highly productive staff and tend to adapt technology and best practice techniques faster.
Even if you have a limited domestic market, you should think about exporting - around a quarter of new exporters are born globals. Global brands can be built from small local companies – especially in rural and regional Australia.
Find out more here: https://www.austrade.gov.au/Australian/export