Australian exporters see growth on the horizon
SYDNEY - Efic, Australia’s export credit agency bi-annual Exporter Sentiment Index shows that Australian SME exporters are confident about the next 12 months.
Andrew Hunter, Efic’s CEO and Managing Director, said just over half of those surveyed believe they are in a better financial position than 12 months ago, with 57% confident they will be in a better financial position in the next 12 months.
“We found that twice as many SME exporters believe that the economy will be better in the next 12 months than those that do not. This confidence is particularly strong in businesses with a turnover of between $10 million and $100 million,” Hunter said.
The survey showed 56% expect their overseas sales revenue to increase over the year mainly due to increasing demand in existing markets (23%).
But access to export finance is a key concern, with one in five exporters expecting export finance to become more difficult. Just over a third expect it to remain the same.
Hunter said Efic would continue its focus on providing SMEs with export finance when their bank is unable to help. “Often we find that businesses are unable to access finance through traditional avenues, like their banks, and so are unable to take on new export opportunities,” he said.
“Efic can work with the bank to provide a suitable financial solution.” www.efic.gov.au (ATI).