Barclays on Export Week: Exporting – the choices available
THERE is an abundance of opportunities for UK exporters – and plenty of support to help you take advantage of them.
Companies can capitalise on the single market through the European Union (EU) while the spread of English culture and language makes us ‘socially close’ to a number of major international markets – including our number one export market, the US.
Many UK firms begin exporting by entering more established markets. The EU, with its open borders and shared import/export procedures, provides UK companies with unrestricted access to more than 500m consumers.
High-growth markets
James Webber, head of trade & working capital at Barclays in the Midlands, said: “UK exporters are increasingly embracing the opportunities offered by the world’s emerging economies – many of which are experiencing rapid rates of growth.
“Such high-growth markets include the BRICs (Brazil, Russia, India and China), whose dynamic economies are providing a wealth of prospects for UK firms.
All this week Barclays will be writing about various aspects of trading internationally to coincide with UKTI’s Export Week. To read more click here.
“In addition to the BRICs, other fast-growing markets offer great potential, such as the so-called ‘CIVETS’ (Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa) and the MINTs (Mexico, Indonesia, Nigeria and Turkey).
“UKTI International Trade Advisers (ITAs) are well placed to guide exporters on how to select the best territory to target.”
Beyond Europe
Webber added: “The eastern markets are characterised by rapidly rising populations and GDP levels. The middle classes in China and India, for example, are predicted to increase household expenditure fourfold over the next 20 years.
“Many countries in Africa are also seeing increases in their citizens’ spending power. Rapid growth rates, coupled with progress in infrastructure, communication networks and global co-operation, are attracting UK exporters in ever greater numbers to Asian economies.”
The High Value Opportunities (HVO) programme is closely linked to these markets and offers UK businesses support to get involved in large-scale projects across the world.
Webber said: “The HVO programme is a major UKTI trade initiative that identifies opportunities and supports UK businesses of all sizes in accessing large-scale overseas procurement projects.
“Since 2011 the programme has supported UK businesses in winning £8bn of major projects. Global High Value Opportunities are worth trillions of pounds in total and cover a broad range of markets and sectors.
“Each project has contracts with a total value of at least £500m. Among the 100 HVOs identified by the UKTI are projects such as delivering the 2016 Olympic and Paralympic Games in Rio de Janeiro.”
Financing High Value Opportunities (HVO)
When participating in an HVO, mitigating risk, managing working capital and having certainty of payment are all key to the success and profitability of the project.
Webber said: “At Barclays we take an end-to-end view of our clients’ trade and working capital requirements and offer solutions to suit your business.
“Discussing your export plans and financial requirements with your bank early on in the process can help ensure that you have the support in place as you progress.”
Support for UK companies
UKTI can share information with you on these major projects and contracts and give your company access to a network of expert advisers in the UK and overseas that provide long-term support.
It will also help build relationships with stakeholders and other likely business partners to bid for projects, where applicable.
To find out how Barclays can support your exporting ambitions, please contact James Webber, head of trade & working capital in the Midlands on 07766 362470 or by email at james.webber@barclays.com
