Australian SMEs gain export support amid AUD volatility with new partnership

The Export Council of Australia and WorldFirst have announced a new partnership aimed at supporting Australian small and medium-sized enterprises (SMEs) as they navigate the challenges posed by currency volatility and global trade.

Australian exporters have recently been impacted by a notable 8% fluctuation in the Australian dollar, which shifted from below USD $0.61 to above USD $0.66 over a four-month period. This currency movement has resulted in reduced profitability for export-focused businesses, particularly SMEs.

Shared expertise

The partnership between the Export Council of Australia (ECA) and WorldFirst combines ECA's six decades of trade expertise with WorldFirst's cross-border payment and treasury management solutions. The aim is to equip Australian exporters with services and knowledge to protect profits in the face of currency swings while optimising cash flow.

Arnold Jorge, Chief Executive Officer of the Export Council of Australia, explained the importance of the partnership, stating:

"Australian exporters, particularly SMEs, often raise cross-border payment complexities and currency risks as key challenges. The partnership with WorldFirst will help tackle these issues through multi-currency accounts, competitive FX rates, and secure international transfers—equipping exporters with much needed tools for safer, more efficient global trade."

The collaboration follows a period of rising demand for global payment solutions, with WorldFirst Australia reporting a 55% year-on-year increase in new client acquisitions for the first half of 2025. This trend reflects the growing priority among Australian SMEs to improve efficiency in cross-border transactions and mitigate risks associated with market volatility.

Addressing volatility

The partnership includes a series of initiatives targeting financial resilience and practical solutions for SMEs. These include educational webinars and roundtables on managing foreign exchange risk and optimising cash flow, as well as practical workshops that demonstrate streamlined cross-border payment processes. By focusing on cost reduction and efficient transaction processing, the intention is to enable businesses to trade globally with fewer administrative and financial barriers.

Connection to international opportunities also forms part of the collaboration, with planned joint participation at trade forums and conferences. This approach is expected to enhance both knowledge sharing and access to new markets for Australian exporters.

Solutions for global trade

WorldFirst's flagship product, World Account, consolidates various global payment functions, including collections from more than 130 international marketplaces such as Amazon and Walmart, foreign exchange conversion and treasury management tools, all within a single solution for businesses. This is intended to help Australian firms reduce complexity and improve efficiency in dealing with international customers, suppliers, and marketplaces.

In 2025, WorldFirst completed the full rollout of its World Card in partnership with Mastercard, expanding its financial solution offering for SMEs. The card integrates global payment features and security measures to help business owners manage international expenses while supporting expansion into overseas markets. It is now also available in the Oceania region.

Industry response

Jim Vrondas, General Manager for Australia and New Zealand at WorldFirst, commented on the partnership's significance:

"WorldFirst is committed to supporting the global growth aspirations of Australian SME businesses. The agreement we signed with the ECA sends a clear signal that we are here to help local businesses succeed when navigating complex international markets. This not only means connecting foreign currency accounts to the world's most popular marketplaces but also helping business protect profit margins."

Through initiatives such as providing multi-currency accounts, offering competitive foreign exchange rates, and enabling secure global transfers, the partnership intends to create new pathways for SMEs engaging in international trade.

Both parties have stated that their collaboration addresses the current needs of Australian SMEs and is adaptable to ongoing shifts in the global economic and currency environment. The approach seeks to support resilience for exporters in a period characterised by significant currency fluctuations and increased participation in cross-border business.