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As the global business environment becomes increasingly competitive, more Australian businesses are looking to explore export opportunities and expand their operations into new markets. While this can be a very lucrative idea, it can also present a number of challenges that businesses need to be aware of and prepared for.
By being prepared for these barriers and taking steps to address problems faced by exporters in international markets, you can give yourself the best chance for a successful export venture.
Read on for ways to get your business ready for international trade and explore some things you need to do in order to mitigate risks in exporting.
According to findings from the 2022 DHL Export Barometer report, 90% of Australian businesses say they encountered export challenges this year. The top challenge was the increased cost of freight, which troubled 64% of businesses. One-fifth of traders are also struggling with inflation in general. These issues are felt in markets across the globe, but they are particularly impacting exporters operating in the Americas and the Europe/UK/Middle East/Africa regions.
Those expecting their revenue to grow are more likely to be finding the increase in the cost of freight a challenge – this indicates that price increases are a brake on expansion. However, there are ways to mitigate the impact of these challenges.
For example, you can compare quotes from different logistics providers, such as DHL Express, to find the best option for your business. MyDHL+ offers a quick and easy way to get a quote for your shipment. Simply enter your details online, and you will be given our lowest non-account rate for express door-to-door service. You can pay by credit or debit card, making it convenient and straightforward.
By taking proactive steps like this, you can ensure you are getting the best possible price for your export needs, leaving you with ample resources for business expansion.
Export businesses have had to contend with a number of challenges in recent years, most notably the ongoing disruption to global supply chains. This has been caused by a variety of factors, including the COVID-19 pandemic and the resulting restrictions on movement and trade. As a result, many businesses have been forced to reevaluate their supply chains in order to mitigate risk and add flexibility.
One way that businesses have done this is by diversifying their business supply chain. This allows them to have multiple sources of supplies in times of need, which can be helpful in preventing or minimising disruptions.
The 2022 DHL Export Barometer found that almost half of the businesses with supply chain vulnerabilities have taken on multiple suppliers to provide alternatives in times of need. Other innovative solutions that businesses are using include increasing stock levels, sourcing raw materials, setting up their own manufacturing alternatives or entering joint ventures with advantageous partners.
Through these techniques, export businesses can emerge more competitive and be better prepared for the challenges of the global marketplace. The diversification of supply chains enables export businesses to overcome the challenges posed by a vulnerable supply chain and position themselves for success in the global marketplace by tapping on export trends.
No matter the size of your business in Australia, it is important to be prepared for any potential export challenges. Export challenges can be daunting, but by partnering with a leading logistics company like DHL Express, you can reduce the chances of these challenges impacting your business and keep your business running smoothly.
We have the experience and shipping expertise to help get your products to their destination safely and securely. Additionally, we offer a wide range of shipping and logistics services that you can choose from that are designed to meet the needs of businesses like yours. Learn more about how we can help you prepare for success in the global marketplace and open a business account with DHL Express today.