Business Growth: Exporting for strength

FINDING new overseas markets is vital for companies looking to make themselves more resilient in the face of sluggish UK growth, according to experts.

The last 10 years has seen the UK lose market share in world trade despite the huge opportunities available.

Advice on taking the first steps into exporting is part of a new supplement from TheBusinessDesk.com, ‘Business Growth’, in partnership with Barclays.

The Single Market and proximity has traditionally made Europe the first choice for UK firms looking to export but economic realities may force companies to set their sights further afield.
 
John Bevan, head of UK trade at Barclays, says: “Now a majority of UK exports go to Ireland, France, Germany and Spain but these are all mature markets.

“These economies, with the exception of Germany, are seeing flat growth and to increase exports into these markets is a challenge.”

While much is talked about in terms of the BRIC economies, Turkey, Mexico and Indonesia are among others that offer opportunities.

Research by the CBI suggests construction services, communication services, electrical goods, optical and high-tech goods and financial services are sectors with particular potential.

Andrew Palmer, director of the CBI in Yorkshire, says: “The new middle classes in emerging economies will have needs that our niche, high-end producers are more than able to fulfil.”