Australian small and medium-sized businesses need to be as Asia-capable as big businesses in order to thrive in the challenging Chinese economy, the country’s peak industry body the National Centre for Asia Capability has cautioned.
According to Asialink Business’s report Risk and Reward: Opportunities for Australian SMEs in China, released yesterday, Australian small and medium-sized businesses no longer rely on traditional approaches to doing business.
Instead, the report has found that Australian SMEs that are adopting innovative approaches are still achieving success, identifying 11 key Australian businesses in China, across the food, fashion, health, and skin care sectors.
Despite political tensions, increased tariffs, rising freight costs, and travel restrictions presenting ongoing challenges, these sectors are seeing an upward growth trajectory.
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