We welcome another global agreement that will encourage growing Australian professional service firms to pursue expansion into overseas markets with the announcement of the Trans-Pacific Partnership agreement.
Craig Lawson, National Professional Services Leader, Grant Thornton Australia believes this agreement opens the door for mid-size professional service firms looking for growth in revenue and margins by examining the opportunity to expand from a limited domestic market into larger, international markets.
“We’re seeing many of our clients in the professional services sector are looking to expand into international markets but the most common question they come to us with is “how do we do it”?
“Despite having a highly skilled workforce, funding, technology and innovation, most Australian firms encounter difficulties with cross border restrictions, regulations, qualification standards, language and cultural differences.
“These uncertainties can create inefficiencies, resulting in a lag between willingness to proceed and the opportunity to capitalise on expansion into new markets.
“We’re hoping the Trans-Pacific Partnership will help to minimise these barriers and assist mid-size businesses to access a market representing almost 40% of the world’s GDP,” said Mr Lawson.
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