How does your business collaborate with our closest neighbour?

April 20th, 2016

April 25 in 1915 was a relatively quiet day in Australia; however, for our soldiers over in Gallipoli it was a day filled with sadness and destruction. This year marks the 101st anniversary of the day our army joined with New Zealand and formed a bond that has stood the test of time - even in the business world today.

The Australia and New Zealand Army Corps (ANZAC) Day celebration takes a look back at what our forebears did for us and what they sacrificed. It's more than just a public holiday, it's a day of national remembrance.

The closest of bonds across the Tasman

Aside from in battle and on the sporting field, Australia and New Zealand tend to have a very strong bond as close neighbours, and that has spread into business as well.

Australia and New Zealand have a very strong bond as close neighbours, and that has spread into business.

Approaching the day when the nation stops to look toward commemorative services around the country, it might be a good time to consider how your SME aligns itself with New Zealand businesses, as a joint initiative from both governments has laid the foundations for.

Harking back to that day in 1915 when two nations bonded together, the two Prime Ministers met in Sydney on February 19 this year for the annual Australia-New Zealand Leader's Meeting. Among the topics discussed were immigration and cybersecurity, however business and trade also came to the fore.

According to a media release from the New Zealand government, the continued close cooperation of Australian and New Zealand businesses is of the utmost importance. Clean energy initiatives were discussed, as well as disaster action plans and the current issue with the Zika virus. There is also a "seamless business environment" in place between the two Asia-Pacific countries on the back of the Closer Economic Relations Trade Agreement that was started in 1990.

The very first business trade agreement that linked Australia and New Zealand was signed in 1922. Since then, the two southern centres haven't looked back.

How can you get involved?

Nobody's going to want to partner up with a company struggling to stay afloat.

There are a number of ways that your business can take steps to become more incorporated with a New Zealand counterpart. What you will need to open up agreements of conversation, however, is a stable income stream that generates working capital. Having strong economic conditions within your own business will make a connection with another SME more likely. Nobody's going to want to partner up with a company struggling to stay afloat.

When you're waiting for clients to fulfil their unpaid invoices, bills can back up and your company might fall into some financial hardship. Earlypay can do is take those invoices and pay your SME a percentage of what they're worth, giving you cash flow immediately so your company can use it to solidify a market position or even shore up some leaks.

When you have a solid financial situation in your company, expansion and collaboration across the ditch become a possibility. With the Mutual Recognition Agreement in Australia and the Secure Exports Scheme in New Zealand, there are likely to be benefits for member companies when the two are signed and further discussed in July this year.

Would getting involved in exporting benefit your SME? We think so. You'll not only see a wider target audience overseas, but it will also open up a new revenue stream and that can help with any cash flow troubles that unpaid invoices exacerbate.

Earlypay is here to walk you through the whole process of taking on invoice finance -and collaborating with a New Zealand neighbour.

What could your business do to strengthen ties across the ditch?What could your business do to strengthen ties across the ditch?

If you'd like to learn how Earlypay's Invoice Finance & Equipment Finance can help you boost your working capital to fund growth or keep on top of day-to-day operations of your business, contact Earlypay's helpful team today on 1300 760 205, visit our sign-up form or contact [email protected].