For too many years, there has been a belief that fluctuating currency markets can only be detrimental to SMEs and as a result are an “after the fact” consideration. This viewpoint has often resulted in an ad hoc and fearful approach to currency markets.
Typically SMEs have been at the forefront of economic developments and expansion within Australia and the current revolution is no different. The limitations of a small domestic market combined with ever advancing technological enhancements have contributed to the considerable increase in offshore activities. According to a recent report by HSBC Economist John Edwards for the Committee for Economic Development in Australia, over the past 10 years Australia has increased its ownership of overseas assets by more than 200% to $286 billion. For the most part this is the result of Australian SME’s.
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