Building resilience through export in the post-Covid world
One thing we know for sure is that the pandemic has left nothing untouched on a global scale.
Every aspect of business has been affected, either directly or indirectly, and the companies that can come out on top will be those that seek out the possibilities and the opportunities – those that can ‘make hay while the sun shines’, so to speak!
Whilst Australia hasn’t seen large devastation that many other countries have from a community health perspective, our impacts of shutting down state borders, locking down whole cities and effectively slamming the brakes on a national economy has already delivered casualties in the form of many small, medium and even large sized companies.
Now is not the time to stand still, there are lots of ways to reinvent even the largest of businesses and indeed industries, as the world starts to define what post-Covid will look like.
So what are the big opportunities to explore and leverage?
For Australia, exporting has always been a significant component of many industries. In fact, we export around 70 per cent of the food we produce! Whilst this year there has been significant reductions in exporting due to the global lockdowns and issues with the Australia-China trade agreements, it is predicted that our reputation for producing clean, green and safe foodstuffs will hold us in good stead as global markets continue to open back up. Particularly in the greater Asian region, as the consumer demand for healthy and high quality products has increased in the face of the pandemic. Additionally, the Australian government have already announced various financial commitments to assist businesses maximise their export capabilities.
So how can you leverage exporting opportunities to strengthen and grow your business?
Indonesia is projected to be the world’s fourth largest economy by 2050, with per person consumption of key commodities like cereals and beef predicted to be greater than China. (Source: Awe.com.au) Just as diversification of the supply chain has been identified as crucial to surviving crisis situations such as this pandemic, diversification of countries to trade also needs to be considered. By relying a countries export opportunities on just a small handful of markets is a strategy of risk, as it creates a dependency on, and full impact from any issues that arises in those countries.
The challenge of partnering with multiple countries is of course the differing regulatory environments and requirements that need to be adhered to for compliance in each country. Differences in labelling of products, auditing certifications, laboratory testing requirements and other specific regulations makes entering new markets a daunting minefield! But the opportunity to leverage attractive Australian products and scaling business to the global stage is a real strategy for recovery and growth in the post-Covid world.
So where do you start?
Mérieux NutriSciences Australia is part of a global network present in 26 countries. Their safety and quality experience spans five decades, and their team of experts cover a complementary suite of services including labelling and regulatory compliance, extensive micro and chemistry laboratory testing including various export specific tests in raw milk and meat segments, auditing including global schemes recognised by GFSI (Global Food Safety Initiative), and other bespoke consulting services. Services such as blockchain technology and the Mérieux NutriSciences SafetyHUD global food fraud and safety alerts platform, complement the testing services to provide a holistic food safety and quality offer.
Contact Mérieux NutriSciences to start your exporting journey, and ensure the safety and quality of your products for every market you move into.
Phone: 1300 000 990