Celebrating ongoing success in German-Australian business

The German-Australian Chamber of Industry and Commerce once again came together yesterday for their annual New Year Reception, celebrating successful business partnerships and ongoing opportunities between our two countries. Accru Felsers is honoured to be the primary sponsor of this event, a testament to our longstanding membership of the German Chamber and our commitment to future initiatives.

Aboard the iconic James Craig 1874 Tall Ship, a COVID-19 limited number of members and guests sailed across Sydney Harbour, enjoying cocktails and canapes against a memorable sunset and the famous Sydney city skyline. We welcomed Christoph von Spesshardt and were delighted to share an entertaining evening. A special thanks to the Sydney Heritage Fleet for this stunning venue.

This year, the New Year Reception is all about looking ahead. There’s no denying 2020 was difficult with its citywide shutdowns, economic instability, and a dip in market confidence, but here at Accru we’re focusing on moving forward, and we’re excited for the prospects 2021 has to offer.

Let’s not forget that we’ve shown resilience many times before in our long history – Accru Felsers was one of the founding members of the German Australian Chamber back in 1977, and since then we’ve successfully endured multiple global events and economic crisis.

We’ve done this by taking an active role in promoting business, economic partnership, and fiscal growth in the robust Mittelstand model – the same model that has made Germany an economic powerhouse and one of the world’s most successful exporters.

Speaking to guests last night, Accru Felsers Partner Steven Zabeti highlighted how important the German Mittelstand continues to be to the Australian economy.

“At Accru, we’re honoured to support German businesses to find a foothold in Australia. We believe this is vital to drive mutually beneficial economic success for both nations,” he said.

“It also promotes deeper industry relationships, and creates cultural co-operation at its finest. Their success is our success,” he said, toasting the crowd.

For 75 years, Accru has been assisting German-speaking businesses to establish and develop on Australian shores. Our clients include some of the world’s largest manufacturers and distributors, including Schaeffler, Witron, Groupon and The Iconic.

We look forward to continuing our award-winning success with new and existing partners this year. And as we focus on the fresh start 2021 offers us all, we wish all our colleagues the very best in their ventures!

A Masterclass in defining Mittelstand

It is notoriously difficult to directly translate the word ‘Mittelstand’, however the term colloquially refers to both family-owned companies and small to medium sized enterprises.
Mittelstand companies compromise a staggering 99% of German businesses and employ roughly 80% of the German workforce. That’s over 3.7 million businesses falling under the Mittelstand banner.

These business have unique characteristics such as robust vocational training, taking a long-term view of commercial interests, and continual investment in Research + Development. They boost Germany’s innovation, entrepreneurship and economic vitality.

They form the heart of the German economy, and exemplify world-class, strong, successful business.

Facts and figures about the German/Australian partnership.

  • Germany is Australia’s tenth-largest trade partner.
  • Germany is one of the three largest exporting nations in the world.
  • At the end of 2016, Australian investment in Germany was worth $65.8 billion AUD. Germany’s investment in Australia was valued at $38.8 billion AUD.
  • The Double Tax Agreement entered into force on 1 January 2017. This revised tax treaty reduces tax impediments to create new opportunities.

With a new outlook and renewed level of engagement with its members, Christoph von Spesshardt and the German-Australian Chamber is gearing up for a interactive and industry focused year ahead and together we look forward to the prospects of 2021.

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