Event summary - Central European Business Forum: Building international business opportunities

The Central European Business Forum (CEBF) at the 2015 Small Business Festival Victoria was held on Wednesday, the 12 August, to discuss possibilities and experiences for Victorian small and medium sized businesses in relation to doing business with partners from Central Europe. The topic attracted the interest of more than 130 people, exceeding the venue capacity. Keynote speakers, members of business and government panels provided insights into the topic. It was emphasised that Central European economies provide a substantial combined market potential, which is not unknown to but is currently under-utilised by Australian firms. In order to exploit the potential for economic exchange between the two regions, governments can identify areas of shared interests and strategic objectives, which can be supported by appropriate policy arrangements. In particular, the need for removal of regulatory barriers has been suggested from both sides. Opportunities highlighted centred around aviation and aerospace, resources, energy, tourism and hospitality, manufacturing, technology and R&D sectors. Business representatives have discussed connectedness to EU markets and the availability of high quality human capital as key advantages Central European economies. Building awareness of these opportunities - and in particular appropriate branding and positioning - has been addressed as a key success factors. Furthermore, mutual knowledge and appreciation of business cultures and practices needs to be improved to enhance intensity and success of business exchange. Businesses can benefit from this improved understanding, which can enhance economic performance. The organisers are working on the continuation of the Central European Business Forum event series.