A new website has been launched to help Australian small and medium]sized enterprises (SMEs) understand the export finance options available when exporting or investing offshore.
The Export Finance Navigator (www.exportfinance.gov.au) is an independent source of information on export finance.
It aims to assist current and potential exporters by sourcing a wide range of information on the financing alternatives available as they seek to grow their businesses through export and offshore opportunities.
Developed by Export Finance and Insurance Corporation (EFIC), the Australian Government’s export credit agency, the online tool is a response to a recommendation of the 2008 Review of Export Policies and Program (the Mortimer Report).
The website divides the exporter’s journey into six stages: preparing for export, finding markets, winning contracts, financing production, getting paid and expanding overseas. An exporter can easily identify which stage they’re at, and then find the export finance solutions available to them at that stage.
The website not only helps exporters to find out about the export finance tools provided in the commercial market, but also the grants and tax concessions available to exporters from federal, state and territory governments.
EFIC’s CEO and Managing Director Angus Armour said: “Being better informed about their export finance options will help give Australian businesses operating in overseas markets a more solid financial foundation and contribute to their continued international success.”