The potential for businesses to reach new markets beyond the UK ‘has never been greater’

As the world becomes ever more globalised and digital, the potential for businesses to reach out to new customers and lucrative new markets beyond the UK has never been greater. Trading overseas helps to boost profits, spread business risks and add resilience.

For firms which have a product or service that is performing well at home, there will almost certainly be demand for it overseas. Small companies in an unusual sector shouldn’t be put off – two out of five companies with fewer than ten employees are already doing business in at least one high-growth market.

Not only is exporting a way to grow business, it can also make firm’s more productive, innovative and resilient to economic downturns. The Department for International Trade (DIT) is here in the region to assist companies explore new markets and make the most of the opportunities that exist in the world out there. DIT helps companies from a whole range of sectors, including food and drink, education, healthcare, manufacturing, creative media and fashion.

Mark Robson, DIT regional director, Yorkshire and the Humber, said: “Any business can sell overseas. Traditionally our region has traded items including cutlery, steel and textiles and we continue to do so. We are also seeing professional services, gaming and digital sectors sell their services internationally now too. Exporting has become the norm for some businesses.

“Improvements in communication technology can often make the initial contact with local distributors, suppliers and resellers within the target market easier but that cannot be relied upon fully. This is where DIT can continue to support a company through its exporting journey.”

To support SMEs looking to sell overseas for the first time, or expand their already established international trade portfolio, the government’s Exporting for Growth programme has grants available for companies in the Yorkshire and the Humber region.

Part-funded by the European Regional Development Fund (ERDF), the match-funded grants are designed to help SMEs to pay for key activities that will help them break into international markets, and are available up to a limit of £5,000 for those already exporting and up to £2,000 for first time exporters.

Exporting for Growth is open to SMEs with fewer than 250 employees with an annual turnover of less than €50m. In addition, successful applicants for the fund can also receive support from a specialised DIT International Trade Adviser.

Robson added: “International trade can feel a bit daunting at first and so it is important to have some support along the way. The Exporting for Growth programme helps people in the early days, whether it be to start the process that they had planned to, or whether it’s to actually get orders placed in a market where they have already reached out to.”

Through great.gov.uk, the department also gives UK businesses access to millions of pounds’ worth of potential overseas business, helping them start or increase exporting.

There have been more than 2.7m visits to great.gov.uk and more than 5,200 UK businesses have already registered on the government’s ‘Find a Buyer’ service to match UK businesses to worldwide demand.

SMEs from across the Yorkshire and the Humber area interested in finding out more should call on 0300 365 1000 or email yorkshire@mobile.trade.gov.uk. Or to find out how to apply for the Exporting for Growth grant, book on one of the upcoming breakfast events in Humber, Leeds City Region, Sheffield City Region.