How can small businesses grow rapidly with Airwallex in 2024?
Do you have big ambitions in 2024? Are you looking towards New Zealand success stories like Xero, Sharesies or Allbirds and thinking; “How can I get my business into that hyper-growth zone?”
You know you offer a great product or service, but how can you take your business to the next level and jump on that growth rocketship?
We get it! In fact, we know these questions well. Airwallex also came from humble beginnings. Our four founders started a coffee shop in Melbourne, Australia in 2015, and now we are lucky enough to call ourselves a unicorn (a former startup now valued at over $1bn). From this, we’ve been able to support thousands of other ANZ businesses achieve incredible expansion.
We believe that one of the most powerful things you can do to support your growth trajectory is to take control of your financial operations. Because when you streamline, automate and master your finances, you can open the door to powerful new opportunities to scale. Here’s how.
1. Access a global market or suppliers
One of the most impactful ways to expand your customer base is to take your business global.
Our recent research showed that 34% of ANZ SMEs are operating in an international market, with a further 35% wanting to go global. For those businesses already operating overseas, the move has been lucrative; unlocking access to new customer communities and broadening their overall market share.
For those who haven’t yet been able to break into the global market, or who may be reluctant, it’s often the administrative burden that’s putting them off.
It’s true, that entering into new markets brings new challenges, especially financial ones… You might find yourself asking these questions.
How can you pay local suppliers and vendors to support global production and logistics?
Do you need local bank accounts to accept and make international payments?
How can you let your customers pay in their local currency and preferred payment method?
Is it worth selling your product or service globally when you’re being hit with foreign exchange and conversion fees, over and over again?
Airwallex can solve all of these problems for you, making your international expansion easy.
Forget opening local bank accounts; Skip the excessive paperwork and open your Airwallex Global Account online in minutes. Collect payments from global customers in their preferred currency and spend your proceeds later in the same currency. Better yet, you can get started with a Global Account, and it only takes a few minutes to sign up.
Skip conversion fees and costly foreign exchange (FX) rates; With our FX and Transfers features you can access market-leading FX rates no matter the transaction size and rapidly pay suppliers in 150+ countries and regions and 45+ currencies.
We’ve helped businesses around New Zealand scale to new destinations with our incredible FX infrastructure. Together, we’re taking amazing Kiwi ideas to the world.
2. Boost efficiencies in financial administration
The old adage ‘time is money’ is especially true for those working in a small business.
It’s a classic story, founders start a business to share a vision with the world – then all their time gets eaten up with administrative hurdles. Finance operations are especially demanding and frustratingly unavoidable!
You need to boost efficiencies, and you can do that with tools that are;
Cloud-based (so you can work on-the-go)
Automated (helping you ditch manual tasks)
Transparent (to help you catch any issues before they arise)
Hitting this trifecta can be transformative. Airwallex can help you remove stress from your daily finance operations – while unlocking opportunities for growth and scalability.
3. Create a streamlined customer experience
It’s a simple equation, the more customers you bring in - the more money you make. You might have an amazing product or service, but without a strong customer experience, your potential buyers may never get to experience your offering.
When you look at small business success stories, the winning customer experience formula they tend to follow includes;
Offering a unique product or service that has great market-fit
Getting their product or service in front of the right people with marketing that turns heads
Helping customers commit rapidly by making the purchasing journey as seamless as possible
Delivering on their product or service
Each of these steps is critical in keeping a customer’s attention, and motivating them to return to you again and again. But business owners often forget to focus on the purchasing journey, which can be a critical mistake.
Nailing the purchasing journey with Airwallex Payments, launching soon in NZ, can reduce the risk of your customer losing interest and falling to distractions, while also building their confidence in your overall service.
4. Build a powerful integrated tech stack
Technology is transforming growth potential for small businesses. It used to be the case that only enterprises would have access to powerful technology that could help them manage operations. Systems were often custom-built and programmed, and delivered with a hefty price tag.
Things have changed dramatically in the last couple of decades. For every part of your business, you can leverage amazing software at an accessible price that can be scaled or adapted to suit your needs.
However, it still takes a bit of savvy to get real value out of great software. You need to curate a great tech stack - a selection of different platforms that work together and serve each other - to save yourself from manual data entry, and create new opportunities to help you grow.
That’s why we’ve made sure that Airwallex integrates with all of the key platforms that you’re using for accounting, productivity, marketing, sales and eCommerce. We’re passionate about making things as easy, and impactful, for you as possible.
Supercharge your growth trajectory in 2024
Could 2024 be your year? Don’t just wait to find out. It’s time to take the bull by the horns.
Airwallex was designed to empower small businesses to shoot for their growth goals. If you’re ready to step into your next expansion phase, getting started with us is easy. Sign up now.
Disclaimer: Airwallex (New Zealand) Limited is registered on the NZ Financial Services Provider Register (FSPR) with number FSP1001602. All product timelines are provisional only and subject to change.
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Izzy is a business finance writer for Airwallex. She specialises in thought leadership that empowers businesses to grow without boundaries.
