Greta Dickson, 21, and 2-year-old Charlotte Finnis wear Seafolly bathers at Brighton Baths. Picture: Mark Dadswell

While attempting to grow a business globally can be overwhelming for many small to medium business owners, ANZ on Monday rolled out a new tool dubbed “Be Trade Ready” to help local operators expand their businesses much more efficiently and effectively overseas.

Australian swimwear company Seafolly’s chief executive officer Kylie Archer said while their business has already been a global success story, if they had a online tool when they initially expanded aboard it would have helped them do it much more easily and reduce “the unexpected cost of going to market”.

“I think you can do your homework and research as much as you can but until you are actually there (in that market) you don’t necessarily have all the visibility on the costs,’’ she said.

Model Bridget Malcolm, pictured at Bondi Icebergs, Sydney, is the new face of swimwear label Seafolly. Picture: Carly EarlSource:News Corp Australia

The new free online tool which was created together with the Export Council of Australia is a first among the banks to allow businesses from a range of industries to look at benchmarking, forecasting of revenue, capital requirements and access to Free Trade Agreements across many countries.

ANZ’s managing director of corporate and commercial banking Mark Hand said the tool will put businesses in good stead to expand internationally and attract new customers.

“We certainly hope we have a capability that attracts customers and it is one distinct area where we have a competitive advantage ... and this helps make this a significant pain point easier for customers,’’ he said.

“The tool can help you identify a market for your product as opposed for you selecting a market and hoping you can target a market for that product.”