International Trade: Technology holds the key to success
EXPLOITING technology will be key to the future success of the West Midlands as an exporting region, international trade experts have said.
Steve Newman, director, audit, tax and advisory, RSM Tenon in Birmingham, said the West Midlands was in the vanguard when it came to innovation and firms in the region were leading the way with new developments in sectors such as automotive and green technology.
Speaking at a special RSM Tenon round table event on International Trade, chaired by TheBusinessDesk.com’s West Midlands editor Marc Reeves, and attended by foreign trade experts, Mr Newman said: “Successful businesses look to spot trends and identify what things are going to be like five years into the future and then meet the need.
“Down the years, the West Midlands has always led the way with the development of new products and services and today it is responsible for some tremendously innovative ideas.
“Sectors such as automotive and sustainable energy are going to be vitally important over the next decade and firms taking the lead now will benefit in the future as well helping to preserve the economic prosperity of the region.”
Stewart Towe, group chairman and managing director of Smethwick-based Hadley Industries, told the event his business had thrived by spotting new opportunities.
“If firms want to try and identify opportunities for foreign growth they should look to the supply chain,” he said.
“Right now in Germany there is a lot of activity in the energy sector where businesses are investing in things like solar technology.
“If West Midland firms want to be successful then they should look at doing something similar.”
To read more about the growth opportunities offered by international trade, download the free RSM Tenon international trade supplement.
