Back in 2012, the UK Government set a target to get a further 100,000 UK companies exporting, to increase the U.K’s exports to £1 trillion by 2020. Although this ambitious target may not be reached, we would encourage any U.K company not currently trading internationally to export their goods and services. Here’s why;
1. Technology has made it simpler
Technological advances, particularly the internet, mean it is easier than ever to access export markets and attract new customers. Also, many export documents can now be prepared, authenticated and transmitted electronically making the export process so much easier and faster.
2. Exporting allows companies to access new sources of revenue
The U.K population accounts for less than 1% of the world population so why restrict yourself to such a small market? For companies that are looking to grow substantially, exporting is essential to access this huge overseas market.
3. Exporting to a wider range of markets reduces risk to revenue
By trading in more markets, you will be protected from fluctuations and potential downturns in the domestic market which can adversely affect your business.
4. It increases the turnover, profitability and stability of businesses
Exporting, when approached correctly, will increase turnover and profitability and so provide financial stability and provide increased value for shareholders.
5. It gives businesses the opportunity to price competitively
With the Pound remaining relatively weak against currencies such as the US Dollar and Euro, it gives you the ability to price your products more competitively for export.
6. There is a high demand for British products
British products are held in high esteem abroad so why not capitalise on this demand.
7. It will enhance a company’s profile
By adding the international dimension of exporting, your company image and profile will be enhanced on to a global stage.
8. Because businesses need to stay ahead of their competitors
Your competitors are already exporting, so you don’t want to be left behind!
9. It can improve a company’s efficiency
Accessing new markets resulting in an increase in volume of orders will improve manufacturing efficiency, reduce costs and allow you to more fully utilise your capacity.
10. Your business will contribute to improving the UK economy
The big Government push to get U.K companies selling goods and services abroad is because by exporting, you will help to improve the UK economy by driving up it’s GDP.
11. It provides incentives to broaden a company’s product offering
Trading in more markets will help to develop new and modified products, increasing product ranges that meet the needs of international customers.
12. There is plenty of help and support available
There is a lot of help and support available from organisations such as UKTI, British Chambers of Commerce and of course, Access To Export are always here to help too!
Potential exporters are often discouraged by the perception that exporting is “too difficult”. Whilst we fully accept exporting is more demanding than domestic trade, particularly in certain export markets, there is significant help and support available to ensure you approach exporting in the right way and don’t make costly mistakes. There is an old saying “anything is easy if you know how”. We have been involved in international Trade for over thirty years so we can guide you each step of the way or handle most aspects of exporting on your behalf. So, if you are considering exporting but have concerns or reservations, or just don’t know where to start, why not contact us for a no obligation discussion, so you can start exporting successfully.
Happy exporting!
Chris Willers, Managing Director, Access To Export Ltd.