Australian Business Women Make Their Mark in Global Markets

Australian Business Women Make Their Mark in Global Markets

A new generation of female global entrepreneurs is emerging in Australia, according to research conducted by the University of Melbourne and Women in Global Business (WIGB).

The first year‟s results are published today in Australia's Underestimated Resource: Women Doing Business Globally, a new report released by Parliamentary Secretary for Trade Kelvin Thomson and Minister for the Status of Women Julie Collins.

'This research shows that Australian business women are making their mark on the international stage," Ms Collins said.

'It is important that we acknowledge and support the growing number of successful women-owned businesses operating in markets across the globe".

WIGB, a joint federal, state and territory government initiative, commissioned the five-year study to shed light on women‟s growing contribution to Australia‟s economy through international trade.

'Female-owned businesses are now the fastest growing segment within small and medium enterprises. It is crucial that we better understand their motivations, and what helps them succeed as exporters," Mr Thomson said.

The report focuses on Australian women active in global markets, both as employees responsible for the international operations of large companies, and as independent owner-operators.

It found a large, active group of women-owned businesses operating across a wide range of foreign markets. These are predominantly young, small to medium enterprises that internationalised in the last six years. Over a quarter (29 per cent) of the women-owned organisations earn more than 50 per cent of their sales revenue internationally.

The research found baby-boomers make up the largest demographic (54 per cent are 50 years old or older). These women are very well educated (over 70 per cent hold a bachelor degree or higher). Almost half (44 per cent) speak a foreign language.

The countries most frequently identified as the „most important market‟ were the US (26 per cent), China (18 per cent), the UK (9 per cent) and New Zealand (7 per cent). Thirteen per cent of those businesses where the first international venture occurred in the past five years chose China.

Almost all those surveyed intended to continue expanding their global reach, suggesting positive flow-on effects for Australian exports and jobs.

Ms Collins said the research would help the Government target support for female exporters through organisations such as Austrade and Women in Global Business.