Page 17 - Food&Drink Magazine Jan-Feb 2019

UPWARDLY MOBILE
Companies that export also fare better generally. According to the Department of Industry, Innovation and Science, businesses that are continuously exporting routinely outperform non- exporting businesses. DIIS found in its latest Industry Insights report, Globalising Australia, that businesses that continuously export tend to have higher capital expenditure, employ more people and add more value than their non-exporting counterparts. On average, DIIS found that exporters are also more productive, more innovative, and pay higher wages. Employment in manufacturing may have declined here over the past 40 years, but food and beverage is bucking the trend. In 2018, the food and beverage sector employed 26.5 per cent of all manufacturing workers,
which was an increase of
approximately 12,000 people from the year before.
VALUE ADDED
Global brand presence also attracts greater valuation, especially if you’ve built a solid foundation in Australia. It gives potential business investors the comfort in knowing that this brand has appeal in multiple markets, and the opportunity to scale up globally; thereby increasing future earnings and profits. This only applies where the export approach is strategic and planned, as opposed to reactionary.
BRAND BENCHMARK
Export helps to benchmark against global brands. Traveling overseas, especially to markets such as Hong Kong, Singapore and the United Arab Emirates, and attending reputable international trade shows such as SIAL Paris, Anuga, ExpoWest, Gulfood, and FHASingapore, offers
companies the opportunity to see global benchmarks in every category. This provides a factual framework from which to strategically decide whether to enter a given market, and a better understanding on how to pitch your product. Only in this way will you know whether you are operating at global benchmarks. If you’re not, and your market visit helps you understand why, this can accelerate your product development and innovation, and help you reach that standard faster.
PERSONAL GROWTH
Export drives personal growth and connections, because business is built by people. So it’s important to be growing personally, too. Expanding business operations overseas naturally helps you see new ways of doing business, understand different cultures, and build social relationships. You begin to understand the
history of various cultures, create new friends, both in Australia and overseas. If business gets really serious, you may even spend a short period of time living overseas building a market, and you may even end up learning a new language.
Parts 2-6 in this article series will cover Setting Goals & Allocating Resources; Targeting Consumers, Markets & Channels; Market Entry Strategies & Selecting Partners; Brand Activation; and Available Support. If you’d like to learn more, or simply start the conversation, reach out. I’m always happy to connect. ✷
✷ ABOUTTHEAUTHOR
EXPORTS
Najib Lawand is the director of Export Connect. He has 20 years’ experience in the food and beverage
industry, across the
private and public sector. He can be contacted at najib@exportconnect. com.au or +61 448054234.
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