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SMALL AND MEDIUM EXPORTERS BULLISH ABOUT YEAR AHEAD
More than half of Australia’s SME-scale exporters are expecting increases in revenue over the next 12 months. This optimistic picture has emerged from the biannual Efic Exporter Sentiment Index released last week.
The report shows that 57% of Australian exporting SMEs believe they are in a better financial position than 12 months ago, and are 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,” says Efic CEO and Managing Director Andrew Hunter.
“While overall sentiment is pleasingly positive, we’re still seeing access to export finance as a key concern for Australian SME exporters. The results show that one in five exporters expect access to export finance to become more difficult, and just over a third expect it to remain the same,” says Hunter.
“This is where Efic can add real value to Australian small and medium exporters. Our focus is on providing SMEs with the export finance they need 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.
“Efic can work with your bank to provide a suitable financial solution. Whether that’s through a loan, guarantee or bond, we can help experienced exporters or those thinking of entering their first export market,” says Hunter.
The Efic Exporter Sentiment Index is available for download from the Efic website.
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