Global Ventures
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Australian businesses are taking advantage of information technology and freer capital flows to expand globally in far more innovative ways than simply placing goods on a ship for export.
This is according to a new report released by the UQ Business School and the Australian Business Foundation.
The ABF’s research analyst, Dr Matthew Steen, said the report, entitled Born to be Global: A closer look at the international venturing of Australian born global firms, found smart Australian businesses recognised they were part of global production chains and were identifying and capitalising on niches within those chains.
Professor Peter Liesch, leader of the study and Professor of International Business at UQ Business School, said the report’s findings suggested the so-called “tyranny of distance” brought about by Australia’s geographic position in the world had become an outdated concept to some of the firms.
“The report found, contrary to conventional wisdom, Australia’s geographic position can provide a competitive advantage rather than be an impediment to the global expansion of some Australian businesses,” he said. “There’s also the obvious advantage of Australian businesses operating in a time zone that lies ahead of those of their clients.”
