Businesses should also adopt protective security measures aimed at reducing the vulnerability of people, property and information to a range of threats in the overseas business environment. The Department also provides useful economic and trade informationincluding country profiles and fact sheets, for a range of countries.
Before undertaking a new investment or business activity overseas you should familiarise yourself with the local operating environment.
Australian business planning guide security consultancies are also a valuable source of information and advice on local security conditions. Business councils and Chambers of Commerce can provide useful opportunities to engage other businesses with experience operating in a particular environment. This attack, and others like it, has focused attention on the need for companies operating in remote or high threat areas to have effective risk management and crisis coordination practices in place.
You should seek local legal advice on business conditions and be aware of local laws. All travel carries with it inherent risks, even short-term travel to familiar overseas locations for meetings and conferences.
The Department of Foreign Affairs and Trade supports Australian business pursuing trade and investment opportunities. Research overseas market conditions Early research and planning is an integral element of managing the risk of overseas travel.
You will also find useful information on market conditions and specific business risks by country on the Austrade website. All Australians travelling overseas should read the country-specific advice for their destination for general information on local safety and security issues. Understanding the threat profile for your destination You should research the local safety and security environment before travel, even for short-term travel to destinations considered to be low threat.
Many countries also have investment and development authorities to assist potential investors and foreign businesses to understand local business conditions.
Risks from political tensions, civil unrest, fraud, severe weather, natural disasters and security of corporate information exist in countries that are not usually considered dangerous. The travel advice contains an assessment of the current safety and security environment, including from terrorism, civil unrest and crime.
The travel advice provides a level of advice for each country or, if the risk of travel is not uniform throughout the country, different levels of advice for particular regions.
This information has been created to raise awareness of the importance of travel planning and risk management as an integral element in managing overseas travel.
Further information on risk assessment and risk management is available from: Page Content Overview This advice for Australian business travellers provides tips on risks for Australian employers and individual business travellers to consider as part of their routine risk assessment process for short-term overseas travel for meetings and conferences, longer-term deployments overseas and travel to high-threat remote locations.
To effectively manage the risk of overseas travel business should: It aims to assist employers and the employees undertaking business travel to make safe travel decisions. The most effective way to secure your business against threats to its overseas operations is to put in place effective risk management and contingency planning arrangements.
The management of risk in overseas travel involves the development of a detailed risk assessment process, training of staff and managers and adherence to safety protocols.Doing business in Australia | An introductory guide 5 The Australian economy Australia has one of the strongest, most competitive, open and flexible economies in the world.
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