ANZ’s new tool helps SMEs expand globally
The data-driven tool was produced in collaboration with the Export Council of Australia.
A new tool is available for Australian businesses that have international expansion in their sights. The ANZ Be Trade Ready Tool, produced by ANZ and the Export Council of Australia, aims to help businesses plan an overseas expansion by offering insights and support.
ANZ managing director corporate and commercial banking Mark Hand said preparing a business for international growth can be difficult. There's more to it than just banking.
"It’s important to provide them with relevant knowledge and insights as they expand and grow," he said.
The tool lets businesses build an international action plan, gain knowledge and insights from other businesses and navigate free trade agreements and barriers to entry. The end goal is for businesses to receive a bespoke international business plan.
Hand said ANZ wanted to do something to help businesses take advantage of opportunities overseas.
“There are an increasing number of Australian companies planning to do business in Asia and if all of these plans work, Australian businesses stand to gain about $138 billion in additional revenue, according to our 2016 Opportunity Asia Report," he said.
It's all part of ANZ's strategy to support small businesses by providing access to services. In February, the bank gave its small business customers free access to HR management platform Employment Hero.
Visit betradeready.anz.com to explore the tool.