Review your export potential Whether big or small exporting offers increased sales, as well as domestic and global competitiveness. Exporting also reduces your reliance on the British market, thus making you less vulnerable to economic fluctuations. You know that you are ready to export if you have already demonstrated efficient communication and good relations with your current customers, as well as the capacity to handle the extra demand that comes with exporting. Develop an action plan Look at who your customers are already, will you find a similar demographic overseas?
How to Plan an Export Strategy Entrepreneurs come in all shapes and sizes. And during European SME Week, we have recognised, promoted and celebrated this entrepreneurial spirit. Now is the perfect opportunity to reflect on enterprise across Europe, particularly the growth potential of SMEs across the continent.
In fact, byit's estimated that 70 percent of world growth will take place in emerging economies. Here lie millions of opportunities for a boosted economy, improved employment and business growth. Inthe UK recorded the strongest export growth in the EU, outstripping every other large economy.
But while the UK is paving the way for exports in Europe, clearly more can be done across the region. There is much more potential yet to be uncovered.
Europe accounts for only 12 percent of the global population - businesses who do not export beyond the EU are missing out on reaching the other 88 percent - equivalent to approximately 6 billion future customers.
This means being bigger in their launch strategies, bolder in diversifying their offering and braver by tapping into new global markets. Turning challenges into chances The path to international success is not always smooth.
There are numerous barriers which commonly prevent SMEs realising their true potential. Significantly, interviewed SMEs reported they found the world's second-largest economy, China, as the most challenging market to export to — meaning countless missed opportunities for growth as economic conditions improve.
From supply chain issues to language barriers and customs duties: In short, European SMEs are missing the wood for the trees. They worry that exporting overseas is going to be a time and resource intensive endeavour.
That is the job of your logistics provider.
Which is why gaining the right support, early on, is critical to success. An example close to my heart, of an SME which is flourishing beyond its own border, is Bremont — a luxury watch company launched in The founders, Nick and Giles English, wanted to capitalise on the British revival of watch-making and demand for UK goods overseas.
Bremont regularly navigates the complexities of watchmaking in the hyper-competitive world of luxury goods, importing watch components for handcrafting and exporting finished watches — in itself an internationally complex endeavour.
With guidance from global trade experts at FedEx, Bremont was able to smoothly manage customs and turn their attention to customer service and delivery — critical for a luxury brand.
Unlocking value from your supply chain For bigger, bolder and braver SMEs, a key to sustaining success is assessing each link in your supply chain and anticipating potential issues before they arise.
This can often spark additional value generation ideas or methods to streamline processes. A good transportation and logistics provider can help here - seeing customer pain points which may previously have gone unidentified and explaining the local rules of play.Open to Export last week ran its 8 th Export Action Plan competition final at the GTR UK Trade and Export Finance Conference, sponsored by NatWest..
Following the format of previous competitions, 10 SMEs pithed to a panel of expert judges – including our chairman Terry Scuoler – for the chance to win £ and further prizes including business membership with the Institute and 2 free. UK Export Finance is the UK’s export credit agency.
As a government department (formally named the Export Credits Guarantee Department) that operates under an act of parliament, we complement the private market by providing government assistance to exporters and investors, principally in the form of insurance policies and guarantees on bank loans.
• draw up an export plan using Open to Export, a free advice service for exporters • find out about ways to finance exporting from UK Export Finance The Marches Growth Hub can help put you in touch with the local team, call or email [email protected] Create your own business plan Business planning has never been easier.
With complete sample plans, easy financials, and access anywhere, LivePlan turns your great idea into a great plan .
Trade and Export Finance Conference - London Last Thursday, the 6th of June , four of TAEFL team attended the fifth Trade Finance Conference in Bishopsgate London.
As usual, it was a great day – Peter and. Plan and deliver the domestic marketing campaign to raise awareness about UKEF to businesses in the UK and generate leads for the business development teams.
Plan and deliver international marketing programmes in key countries to raise awareness about UKEF and support our international business development teams.