Bonding with the US: the SME solution: Australia's Free Trade Agreement with the United States (AUSFTA) has opened a wealth of new opportunities for business, but tapping into this vast export market presents unique challenges, particularly for small-medium enterprises (SMEs) exploring the exciting possibilities.

• Position: REPORT FROM EFIC - Small and medium enterprises

The opening of the US Government Procurement market, estimated to be worth $200 billion annually, has been hailed widely as a potentially lucrative source of new business for Australian companies. The US is the largest purchaser of goods and services in the world and, essentially, AUSFTA puts Australian businesses on a competitive equal footing with their US counterparts when bidding for US Government contracts.

Charting fresh export territory, dealing with new regulations and expectations in a nation of 50 separate states inevitably presents complexity.

The Export Finance and Insurance Corporation (EFIC) has identified a potential sticking point in the...