New market research from AsiaLink Business has found that both large and small businesses cited finding a suitable local partner as a major obstacle.
The Australian Financial Review reports that the research, to be released today, found that – of those surveyed – China was the most popular market to have a presence in. This was followed by Singapore, Hong Kong and Macau, and Indonesia.
Companies were seeking government assistance to branch out into the region.
The research – supported by the Australian Industry Group and the Business Council of Australia – also found the most popular place to look for advice was an industry association, followed by Austrade.
Companies both large and small were challenged finding the right local partner.
Larger businesses were more concerned about recruiting the right staff, while SMEs were concerned about local regulatory issues.
“[Small to medium enterprises] identified a more specific cultural capacity niche – support for building professional networks in the region,” reads the report.