Closer than ever: Growing business-level connections between Australia and Europe

Abstract

Despite the growing presence of European firms in Australia and vice versa, studies of these business-level connections have been few and far between. Building on points made in our earlier macro-level analysis of Australian-European relations, this study examines business-to-business and business-to-consumer activity at the micro-level between the two continents.We focus on three themes illustrative of these growing business-level relations. First, we examine the different pathways taken by Australian businesses in their quest to develop a European market presence. Second, we discuss instances of business and technological innovation in the Australian context, including stories of success in digital innovation and university-corporate collaboration as well as cautionary tales for European institutions arising from the Australian experience. Third, we compare and contrast how Australian and European businesses have responded to the challenge of climate change, focussing on the issues of green lending and retail insurer performance.In foregrounding these three themes, we offer reflections on the implications and lessons for the growing number of businesses operating across both continents.