1/3 of Australian SMBs plan to expand internationally in the next two years

According to the Global Empowerment study by Amazon Australia, trans-Tasman business growth tops the list, with 35% of Australian SMBs already operating or planning to expand into New Zealand. Expansion into the North America with 21% of businesses operating or hoping to expand to the region. Following with other countries strongly considered for global expansion include the United Kingdom (14%), Singapore (9%), and Japan (7%).

Out of 1,003 Australian SMBs that participated in the survey, 96% revealed they have no regrets about expanding internationally. Over 80% wish they’d expanded sooner. However, there are barriers to entry the market, therefore, many Australian SMBs note that they require additional tools and knowledge to expand globally. Around 30% of the SMBs believe they need help/support when expanding their business internationally and when they face cost-effect shippings. In fact, more than 32% wanted assistance with local taxation advice and navigating local legal and compliance requirements.

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