1 in 3 SMBs in Australia eye international expansion: study

The study found most SMBs are interested in reaching North American customers.

One in three small and medium businesses (SMBs) are planning to expand international in the next two years, a new Global Empowerment Study found.

The study, commissioned by Amazon Australia, also found that most Australian SMBs are interested in reaching their North American customers.

One in five SMBs in Australia either operate already or plan to expand in the region.

“With so much to think of when reaching overseas customers – from navigating local compliance requirements, product fulfilment, whilst building an understanding and marketing to a completely new audience – the small business seller faces many potential challenges,” Amit Mahto, Head of Amazon Marketplace Australia, said.

Moreover, the study revealed that business owners aspire to increase revenue, expand their customer base and future proof their business as the COVID-19 pandemic continues.

More than three in four SMBs with existing international footprints consider the impact of COVID-19 pandemic as a factor that drove them to expand globally.

On top of this, new data from Amazon showed by the potential for e-commerce to support global ambitions.

At present, more than 11,000 Australian businesses now sell through Amazon and sold more than 25 million units across its Australian and international stores in the past year.

Some 60% of Australian sellers export their products through Amazon to international customers, with export sales by Australian sellers increasing by 30% on the prior year.