The market’s most recent fluctuations may have everyone’s attention, but variation in the business landscape is the norm. Markets have moved before and they will again. Given this reality, actionable projection clarity for Australian tech firms looking to expand internationally requires understanding the overarching trends in the Australian tech industry with a focused view on how they specifically relate to your company’s positioning. Your numbers tell a story of where and how goals were met — or missed. That data gives a tech firm leverage in pivoting strategies.
This article is the first of a series exploring Kettering’s sophisticated, research-backed prospectus on the viability of international market expansion for Australian technology companies in 2023. We’ll take you on a deep dive through an authoritative market lens and understanding of Australian tech’s place in the U.S. economy over the last several years, to help companies determine where their ambitions fit into the current landscape.
Australian Tech Market Horizons
While the past couple of years have brought considerable changes to many international markets, there is much to look forward to in the Australian tech market, especially in the U.S. According to United States Foreign Direct Investment data, Australian FDI in the U.S. amounted to $102 billion USD in 2020, with some of the top sectors involved being software and IT services as well as business services. At the same time of reshuffling trends, Australia is being touted as an emerging leader in tech enterprise — from cyber security and AI to 5G connectivity — the explosion of the tech market paired with the tenacious innovation of Australian business translates to market potential. Companies that have a plan will benefit from this tech surge.
Turn Obstacles to Positive Positioning with Kettering International
Oftentimes when a projection assessment is made, companies focus on product performance and underestimate the value of the qualitative components: networking, localized team support, cultural competencies, and the subtle art of business collaborations. The most common error companies make is underestimating how knowing and meeting the needs of the U.S. market culture can affect a successful launch.
Kettering International was founded in 2019; however, CEO John Crozier-Durham has shepherded Australian companies through international market expansion for much longer, accruing extensive experience in riding the waves of the market and cultivating a far-reaching network from years of proven and reliable business practices. John has built a hands-on team to help tech enterprises meet their global market expansion goals and position themselves for success.
Another barrier the Kettering team helps clients overcome is cost. Finding ways to alleviate financial pressure is a necessity for any business expansion. Kettering excels at reducing expenditures to the minimum without compromising on essential efforts, educating tech firms on possible cost-saving solutions and connecting them with appropriate, often overlooked resources. One such example is AusTrade’s Export Market Development Grants (EMDG) program, which has been helping small-to-medium-sized Australian businesses grow their exports in international markets since 1974. To enable tech firms to take advantage of these opportunities, Kettering teaches how to navigate this process and helps clients by applying for the EMDG on their behalf, giving them access to resources and funding.