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Businesses exporting outside Europe – in this climate?

For some time now small businesses have been encouraged to look outside Europe for markets for their goods and services.
Indeed research by UPS found that UK SMEs have been outperforming those in Europe in developing their exports beyond the EU and increasing their turnover.
While the bulk of UK exports are still to the EU, 54% of UK SMEs had exported to other English speaking countries, such as the USA, Canada, Australia and New Zealand.
One could argue that SMEs should be looking even further afield. But how realistic is all this as a recipe for recovery and growth?

Export growth?

Markets across the world are increasingly jittery. There is doubt about whether the Bank of England will now raise interest rates this side of the forthcoming election for fear of destabilising UK recovery.
The 2008 Great Recession was a massive shock to the global economic system and the fear that it caused is nowhere near abated. There is even talk of another major financial meltdown looming in the next couple of years.
The IMF has been sending out dire warnings about global growth for 2015 because of the Eurozone’s ongoing failure to recover.
It is becoming ever clearer that the global financial system is now so interconnected that what happens in one part of the world has an impact on economies, wherever they are on the planet.
What price increasing exports in this atmosphere?

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Business Development & Marketing General Rescue, Restructuring & Recovery

Thinking of trading overseas? Where can you get help?

 

Businesses are being encouraged to sell their goods and services overseas as part of the drive to rebuild and rebalance the UK economy after the carnage unleashed by the 2008 crash.

Prime Minister, David Cameron, has set business a target of increasing exports by £1 trillion by 2020, but, if a recent reported comment by business secretary Vince Cable is accurate, businesses cannot expect any help from Government to do so.

So what is a small or a middle-sized business with little or no export experience outside the EU but with the potential to expand overseas to do?

Well actually, there is at least some Government help via the auspices of UKTI (UK Trade and Industry) which acts as a facilitator in organising trade missions to specific countries and pointers to local contacts and to the local issues to be aware or wary of.

Its website also has a very useful page called “where to go next” which details all the issues that a business will need to address to minimise and protect from risks.  These include legal advice on local employment, tax and other issues, insurance, access to export finance (including services provided by UK Export Finance) and specialist advice on risk and security.

While a business may be able to find all this expertise  relatively easily in London, it can be harder for businesses in the regions and the one glaring piece missing from the whole jigsaw puzzle is the existence of experts who can project manage or help a business to organise all these additional aspects.

Has your business considered moving into export markets? How difficult do you find organising all the elements?  Where have you gone for help?