This year, British export growth is predicted to rise to 3.6 per cent. As a result, the UK is set to become the second-fastest growing G7 economy this year (after the US), ahead of Germany, Japan and Canada.
Our biggest trading partners currently remain established players such as the US, Germany, France and Ireland. However, added to that list are China and the United Arab Emirates.
Thanks to a long and proud pedigree, British brands can capitalise on the UK’s high quality heritage image abroad. Companies across the world appreciate quality British products and enjoy trading with British businesses. Everything from whiskey to tweed jumpers and even lemon curd have found new fans in surprising places.
Everything points in one direction: the time to export is now. To get you off to a flying start, we wanted to share our top 10 exporting “Must Dos” to achieve exporting success.
1. Keep an open mind
Exporting to established economies may seem like the easy option, but don’t forget that new markets are emerging all the time. You may already have considered selling to the Baltics but have you considered South Africa?
2. Do your research
Getting clued up on potential markets does not need to cost the earth. The internet is a brilliant resource as are small business groups and networks. Once you’ve identified a country, try to get out there and meet the locals, browse the supermarket shelves and shop windows to scope out the competition and meet distributors face-to-face.
3. Test the (international) waters
Focus on one country for starters to ensure your domestic business is kept in order. There’s plenty of time to conquer the rest of the world!
4. Be prepared
Since the dawn of e-commerce, a product’s popularity can go from nought to 100 incredibly quickly. Ensure you make plans just in case your product flies out of the blocks even faster than you expect.
5. Look for funding
The government recognises the importance of exporting by offering £3bn in funding to UK businesses. Make sure you take full advantage of this… or someone else will.
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