Go Exporting is delighted to announce its partnership with the Asian Exporters Chamber of Commerce and Industry (AECCI).
The partnership aims to offer proactive, cooperative, and mutually advantageous support and a joint effort to tackle trade challenges specific to Asian businesses.
AECCI is a governmentally recognised institution which promotes, represents and safeguards the interests of the Asian business community. It provides support to industry and aims to promote private sector initiatives.
The partnership with Go Exporting marks an important step towards enhancing support and services for chamber members across the region.
AECCI noted that: “Our cooperation efforts will encompass various significant domains, including trade consultation, resolving trade disputes, sharing trade law-related information, and facilitating arbitration resolution between involved parties.
“Additionally, we will execute joint initiatives such as webinars, workshops, trade fairs, delegation exchanges, and business meetings to promote the interests of our members in both countries.
“We are confident that this collaboration will notably bolster the support and services accessible to our members and clients, thereby reinforcing trade relations between India and the UK.”
Learn more about how Go Exporting opens a world of opportunities for business here.
The economic landscape of the UK has shifted massively since both Brexit and the pandemic. A nation that once used to build and manufacture its GDP now relies heavily on a financial services heart as trade with our closest major market becomes increasingly difficult post-EU departure.
And this has led to difficulties around productivity, and a slowdown in inwards investment too.
The productivity puzzle
The introduction of customs checks and the need for additional paperwork have slowed down the process of international trade, impacting industries that rely on just-in-time supply chains in particular. Furthermore, the uncertainty surrounding the UK’s future relationship with the EU has made it difficult for businesses to plan for the long term, stifling investment in productivity-enhancing measures.
Brexit has also had a tangible impact on the workforce too. The end of free movement has led to labour shortages in key sectors such as agriculture, healthcare, and hospitality. These shortages not only hinder operational capacity but also place upward pressure on wages, further squeezing businesses’ ability to invest in productivity-enhancing technologies and training.
Investment challenges
The sentiment around investing in the UK has notably shifted post-Brexit, as highlighted by Jeffrey Sprecher, the founder and chief executive of Intercontinental Exchange. Once a proponent of the UK’s decision to leave the EU, Sprecher has observed a decrease in the UK’s value as a trading centre since its exit from the single market. The ambiguity surrounding post-Brexit regulations has made it increasingly difficult for international companies to commit to investments in the UK.
Sprecher’s comments reflect a broader trend among international investors, who now view the UK with caution due to the compounded uncertainties of Brexit. The perception of the UK as a gateway to Europe has diminished, making investments in the US and other regions appear more straightforward and less risky.
Moreover, the UK’s historical reputation as a global trading centre has been complicated by Brexit. The shift in regulatory frameworks and the potential for divergence from EU standards pose additional hurdles for businesses looking to operate across borders.
This complexity not only deters investment but also challenges the UK’s ability to maintain its position on the international stage.
A post-Brexit reality
Brexit has undeniably transformed the UK’s economic landscape, making it a more challenging environment for productivity and investment. The combined effects of trade disruptions, labour shortages, and regulatory uncertainties have contributed to a decline in the UK’s economic performance.
As the UK continues to navigate its post-Brexit reality, the need for clarity and stability becomes ever more critical to regain the confidence of investors and businesses alike. The path forward will require a balanced approach, one that addresses the immediate challenges while setting the foundations for long-term growth and productivity.
And there are, of course, opportunities to be grabbed too – especially in emerging international markets, for businesses who are brave enough to shift their focus away from the EU and to the global marketplace instead.
For more help on doing just that, click here.
We are proud to report that we recently won another prestigious business award, being voted ‘Export Consultant of the Year’ in the Corporate Live Wire Innovation & Excellence Global Awards.
Global Awards receive 31000 nominations across various categories and are awarded by voters in 36 countries. They celebrate the success and achievements of leading professionals and companies who stand out as leaders in their market sector, being service-focused and who take an innovative approach to demonstrate exceptional business performance.
Mike Wilson, CEO of Go Exporting comments:
“It is a great pleasure to be recognised for the hard work the team put into successfully supporting our client’s international expansion plans. We are proud to have won a second award in as many years and will continue to strive to provide excellent service, whilst always looking to improve.”
Go Exporting specialises in helping businesses to expand into international markets profitably. We offer a range of flexible services to meet your specific requirements many of which you can see on our website. This is not exhaustive, however, and we will be pleased to match your requirements to ensure your success in international markets.
We offer everything from export readiness assessments, customs and compliance, market analysis and reports, and mentoring, to devising and implementing a go-to-market strategy. For example, we have worked with many clients to build their global distribution and wholesale networks.
Just a small selection of the projects recently completed by Go Exporting:
- Finding distributors for veterinary products in Italy and Germany
- Finding distributor and collaboration partners in air quality monitoring in India
- Establishing a UK and European Sales presence for an industrial fastener manufacturer
- Advising a packaging company on the best operating model for EU sales post-Brexit
- Providing an export customs, compliance, and procedures manual for a US healthcare multinational
- Advising a food product start-up on export readiness, strategy, customs & compliance
- Planning and implementing the global launch of a SaaS product
- Advising a health supplement supplier on customs, compliance and operating model for exporting to Australia
Learn more about how Go Exporting can help open a world of opportunities for your business here.
Do you want to learn the secrets of selling internationally from export experts with over 30 years of experience helping businesses expand globally?
Then this webinar is for you.
On Wednesday 31st January at 12pm, SIITACE (The Society of Independent International Trade Advisors & Customs Experts) is presenting an exciting online event where they’ll share valuable insights on selling internationally.
Discover the secrets to expanding your customer base beyond borders and tapping into new markets.
The expert speaker will guide you through the process, covering topics such as:
– Are you ready to sell internationally?
– How to choose the right markets
– The importance of focus
– Who is the customer?
– Decision-making drivers
– Sales Approach
– Developing your Value Proposition
– Route to Market Options
Don’t miss this opportunity to learn from industry leaders and gain the knowledge you need to succeed in the global marketplace. Sign up now!
https://www.eventbrite.co.uk/e/how-to-sell-internationally-tickets-795385588707
“The facts are clear. Businesses which trade internationally are more resilient, more sustainable, employ more people and are more profitable.”
Those are the words of Marco Forgione, director general of the Institute of Export and International Trade. And a new report suggests we can add another adjective to that list – more productive.
A feasibility study published by the London School of Economics on behalf of the government has found that businesses which export are increasingly productive compared to non-exporting firms. And there are a number of reasons for this.
The report suggests that UK businesses can learn a lot from international partners, clients and customers – especially when exporting to advanced economies.
Exporting firms that are also prolific importers are also more able to weather economic storms that can affect supply chains by having a more diversified route to materials. Importing businesses also have increased scope to source different materials and technologies.
In fact, the productivity improvements from training internationally range from three to 22%.
You can read the stody in full on the government website here.
Capitalise on the opportunities of exporting
Is your business making the most of global opportunities?
Exporting for the first time or growing an existing operation into new markets can seem a daunting task, and a lack of internal knowledge and resources is a key reason why many firms avoid expanding further afield.
At Go Exporting, we help businesses to accurately identify profitable target markets and create a roadmap to achieving success in that territory, with as much or as little support as needed to make those exporting goals become a reality.
Learn more about our international trade consultancy services here.
Research commissioned by the British Beauty Council has found that Brexit has severely impacted the UK beauty sector, with SMEs especially affected.
The research, conducted by Oxford Economics, found that customs delays, increased costs associated with cross-border trade and a reduction in skilled EU workers entering the UK economy have shrunk the value of the UK beauty industry’s exports into the continent by £850m.
The research looked at sales trends before and after the UK’s departure from the European Union and found that, whilst sales increased in 2010 and 2016, exports have been in decline ever since the Brexit vote.
Interestingly, export values from UK beauty firms into the global marketplace have remained steady – its EU sales which have declined.
Head of trade policy at the BCC, William Bain, noted that: “The reality is if UK business is to thrive, then we must export more, it’s as simple as that. If we want to remain one of the world’s largest economies, then we need more firms selling goods and services internationally.
“The pandemic, supply chain disruption, Brexit, non-tariff trade barriers and global headwinds have all made this more difficult over the past few years.”
Read more: Growing crisis for UK’s exporting industry
This report, although damaging for the impact Brexit has had on trade with the EU, highlights the advantages of setting corporate sights further afield.
By targeting a global audience rather than just within the Eurozone, UK firms have an opportunity to find new customers – potentially in territories where competition is lower, or there is huge demand for their products and services.
To find out how export-ready your business is, take a quick and free quiz right here and get an instant assessment report on areas you need to work on to start taking advantage of the global opportunities that are out there.
Is your business ready to expand globally and capitalise on a world of opportunities that awaits?
You can assess your readiness for export with our free Export Readiness Quiz! Answer just 16 questions and we’ll provide you with an Export Readiness Score and breakdown of the areas where you need to pay attention to be in a position to successfully start or expand your journey into international markets.
We look at four key areas:
Company – How prepared is your business, it’s people, systems and procedures for export?
Market Knowledge – How well do you know your potential market and where the best opportunities lie?
Export Strategy – Is your strategy sufficiently defined and detailed to ensure export success?
Barriers to Entry – How aware are you of the barriers to entry such as customs rules and regulations, competition, product development requirements?
The final report will identify recommended improvements and further actions you should take to be a successful exporter. From this you can develop your Export Readiness Action Plan.
There is a world full of opportunities out there. Carefully planning and preparing will help you to profitably expand into international markets.
Don’t delay. Start today! Take the quiz here.
A straw poll as part of UK exporters has unearthed how unprepared most are for upcoming changes to the British border and how they will affect them.
Taken on an Institute of Export & International Trade webinar, just 6% of attendees said they were ‘completely clear’ about upcoming changes, whilst 16% said they were ‘clear’.
The question relates to the government’s Border Target Operating Model which sets out how the UK will approach checks on some goods entering from the EU – including several sanitary and phytosanitary (SPS) requirements.
The new border controls are designed to protect the UK against security and biosecurity threats and to ensure a smooth flow of goods, delivered as part of the 2025 Border Strategy.
Kevin Shakespeare of the IOE&IT noted: “There’s a lot going on in the trade and customs space in the UK. It can be a challenge to keep up, but there are also opportunities for businesses operating compliantly, that take the time to analyse and stay up-to-date on the changes.”
The 200-page document explains how the UK will adopt a digitised and risk-based approach to border checks with agencies conducting different levels of checks depending on the risk category of the product.
The same approach will then also be applied to non-EU goods entering GB.
IOE&IT customs specialist Anna Doherty further explained: “The impact of the model will vary depending on what you trade.
“For example, for exporters of SPS goods, the EU has been implementing controls right from the end of the transition period. To bring these checks into the UK will even out the playing field for these businesses.
“The model is also bringing in a range of simplifications. If you’re bringing in SPS goods from the rest of the world, then the modernisation in this regime will allow you to align your processes.”
Read more: Planned post-Brexit checks on EU food imports delayed again
UK importers and exporters have more to contend with too over the next 18 months, including the migration to CDS for exporters, a new NCTS5 system for transit, and the Windsor Framework.
Three key milestones that exporters need to know as part of the British Border Operating Model include:
- 31 January 2024 – The introduction of health certification on imports of medium-risk animal products, plants, plant products and high-risk food (and feed) of non-animal origin from the EU
- 30 April 2024 – The introduction of documentary and risk-based identity and physical checks on medium-risk animal products, plants, plant products and high-risk food (and feed) of non-animal origin from the EU. At this point, Imports of Sanitary and Phytosanitary goods from the rest of the world will begin to benefit from the new risk-based model
31 October 2024 – Safety and Security declarations for EU imports will come into force from 31 October 2024. Alongside this, we will introduce a reduced dataset for imports
If your business is yet to fully understand what upcoming changes mean for continued operations, Go Exporting can help you uncover the practical steps you need to make to remain compliant, continue seamless trade, and even spot an opportunity for growth.
Find out more about our customs and compliance reports, or get in touch directly here.
The Department for Business and Trade has announced a new trade agreement with Washington state.
The deal, or memorandum of understanding on trade, is the sixth such agreement that’s been made which in total offers UK businesses further opportunities to tap into markets worth £2.2tn.
BREAKING: tonight the UK will sign a memorandum of understanding on trade with Washington state 🇬🇧🇺🇸
— Department for Business and Trade (@biztradegovuk) September 25, 2023
This means we'll have signed MoUs with six US states, which had a combined GDP of £2.2tn in 2022 – offering new opportunities for UK businesses ✅
More: https://t.co/GRmmhupb3V pic.twitter.com/t8YsOZijXt
The memorandum with Washington focuses on aerospace with the State the home of Boeing. Industries minister, Nusrat Ghani, will travel to Seattle shortly to sign the pact and lead 35 UK firms at a joining Boeing and Department for Business and Trade showcase event.
The UK has already signed MoUs with Indiana, North Carolina, South Carolina, Oklahoma and Utah.
Ghani said of the agreement: “Our pact with the state of Washington is a win for the UK, opening a door for our businesses to trade more openly and unlock new opportunities in key sectors.
“Each US state is a massive global market in its own right, and many have economies larger than the GDP of whole countries. By notching up our sixth such deal we’ve surpassed the £2 trillion mark for combined GDP of states who’ve done a deal with the UK, with many more in our sights.”
Read more: Marr: Growing crisis for UK’s exporting industry
“This particular deal will be fantastic for our aerospace industry through investor intros, trade missions, and increasing access to procurement markets. I’m delighted to join Boeing and our handpicked group of innovative UK companies to discuss how Government and industry can work together to create jobs and grow the economy.”
The UK is striking deals with individual States in lieu of a comprehensive trade agreement with the United States – a prize that has long been sought since Brexit. However, US concerns over the Irish border since leaving the EU has put talks on hold.
In a recent piece for The New Statement whilst discussing Peter Forster’s book ‘What went wrong with Brexit and what we can do about it’, Andrew Marr has highlighted how UK SMEs are struggling to export to the EU and are increasingly deciding not to.
He says there is an ongoing contraction happening as firms decide it is too difficult to trade with the EU, and new ‘sectoral deals’ may be required by future governments to create closer alignment.
In short, back into the Single Market, but without saying so. Watch Marr’s points below:
Still opportunities for international trade
Whilst doing business with the EU market has undoubtedly become more complex since Brexit, there are still fantastic opportunities for new and established UK businesses to expand their horizons and drive increased revenue through international sales.
For many, it’s just about knowing how to start.
Go Exporting helps companies like this to understand their readiness to export with a three-stage audit and additional strategy, including export viability and corporate goals, legal, customs and market research – as well as market entry strategies.
Learn more about our export readiness audits here.
