SMEs prepare for "Asian Century"

Plans to establish a National Centre for Asia Capability in Melbourne and Sydney demonstrate that the government is serious about preparing Australia's business for the "Asian Century".

For those unfamiliar with this phrase, "Asian Century" represents the projected dominance of Asia, its politics and culture, in the 21st century.

The centre will cost approximately $36 million to construct, and is being delivered by the University of Melbourne's Asialink.

It's all about familiarising SME business leaders with Asian countries and cultures, so they'll be in a better position to work alongside them as we head into the future.

The National Centre for Asia Capability plans to help them achieve this by tapping into "the expertise of business and community organisations, peak bodies, training providers and business councils" revealed Kim Carr, innovation minister, in a July 8 statement.

"The centre will also forge new partnerships to help businesses develop the Asia-relevant capabilities they need to better access growing markets in our region," Mr Carr added.

Already four of Australia's top five trading partners are Asian, and it looks like the future will foster and even stronger bond between our economies.

There are many ways to make sure your business is prepared to face the future. One of them is by organising business insurance.

It may be easy to predict that SMEs will be conducting most of their international business with Asian countries this century, but predicting other events that could affect your company - such as damage-causing incidents - is nigh-on impossible.

That's why having comprehensive interruption, vehicle and business property insurance is so important. It means you'll be be prepared for the unpredictable and your business won't suffer if and when it happens.