In fact, exporting results in greater communication with potentially new territories to companies, enabling directors and entrepreneurs to develop ideas for new and growing markets.
Companies that we have here on the Park that trade overseas have capitalised on new possibilities and benefited from the experience of partners in other companies. Furthermore, the links gained from a number of different countries, which help companies establish connections and contacts overseas, are vital.
Breakthroughs in technology, including M2M technology and 5G research also support these successes, in that communication across the world is cheaper, easier, quicker and more efficient, making exporting a more viable option than ever. This is good news for technology businesses, for whom international markets are as important, if not more important, than local markets.
But there is also a degree of risk associated with growth, new business wins and foreign expansion. Businesses need finance to support the venture, to support new business, and to keep cash flow healthy and they need to understand and overcome a host of cultural, legal and bureaucratic barriers.
It is thus essential that any company looking to export takes the time to plan it strategically, so that the business can be sustainable in the new market.
Dr Malcolm Parry OBE is Managing Director and CEO of Surrey Research Park.
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