International trade: Knowledge is power when it comes to exporting
WHEN companies delve into exporting and start to explore the options available, it can be a daunting experience. But with the right support and guidance, businesses of all shapes and sizes can seize the opportunities available to them.
The Government has a target to double the UK’s exports to £1 trillion by 2020 and get an additional 100,000 firms to export. International trade manager for UKTI Yorkshire and the Humber, Philip Kelly, says there are a lot of companies out there with the potential to export but the fear factor gets in the way.
“For us, it’s about helping them overcome this fear factor and showing them there’s a network of support out there to overcome what might trip some companies up. If they do their research, get the markets right and speak to the right people, they should be successful with their first export order.”
West Yorkshire-based global publisher Emerald Group exports 92% of its business and has customers in more than 130 countries. This year, the Bingley-based firm is looking at further markets such as Africa and Latin America.
Finance director at Emerald, Simon Cox, says there is a lot to learn from those who have ‘been there and done it’ when it comes to exporting.
“The world these days is more connected and the generations we have got coming through now – people in their 20s and 30s – are much more willing to share information than people in their 40s and 50s,” he says.
“And I always reach out to competitors and say look, we are faced with a problem. I’m always pleasantly surprised by the willingness to share information. Yes, potentially there are competitive advantages here, but there is so much information out there that you can glean. Someone has always been down the road before you.”
But Lindsay West, a director at the World Trade Centre Hull & Humber, highlights the importance of making companies aware of the difficulties of exporting. He says that when people go to the World Trade Centre and talk about exporting, a lot of them think it is easy.
“It’s absolutely not,” West says. “When people are looking to export, we do say to them, well, have you looked at Manchester first? The point is that Manchester is a lot easier than China and I think that you’ve got to look at all markets.
“With international markets, you’ve got to really look out for something that has massive international interest, you’ve got to spend a lot of time and invest a lot of money in a market where you aren’t going to be sure of the results.
“So, depending on products, my advice is look at your home market first. Have you maximised your potential there? And then look at Europe. It is the closest and we have a lot of similarities there with how we trade.
“You need to learn the ropes before jumping to China, which is intensely exciting, but they are doing business at a completely different time of day than we are. There are lots of general day-to-day things you have to understand first.”
