Australian exporters managing to create positive business outcomes with the high dollar

The high Australian dollar has impacted on Australian exporters large and small; however, some companies have been better able to manage this challenge, creating positive outcomes which we can all learn from.

In the education sector, there is a greater level of collaboration with international universities, particularly in Asia, which has led to the creation of joint programs. Improvements to university infrastructure and campus facilities are also being used to attract international students when American and Asian universities are becoming increasingly competitive.

A number of NSW companies in the technology sector have focused heavily on R&D to create unique, innovative solutions to take to market. They are also applying R&D to their business’ operations to reduce costs through automation and innovative production processes.

Companies from a range of industries have managed the high Australian dollar by expanding into international markets, namely the United States. For some, the timing of the rise of the dollar worked in their favour, whereas for others, the large population and developed resources and services sectors have meant that their businesses have been able to flourish.

If your company has used innovation to sustain your business against the high Australian dollar, please post your comments below.

Stacey Mills

Export Council of Australia

Website: www.export.org.au