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.
At Go Exporting, we know how critical exports can be to the long-term success of a business – it’s something we talk about all the time! And we love it when we see other businesses embodying that view.
And new research from Alibaba in partnership with the Institute of Export and International Trade has shown that eight in 10 UK firms agree and see exporting as critical to the future of their business.
The data, released in April this year, surveyed more than 3,000 UK businesses and found that 75% expected export sales to rise over the coming months, whilst a quarter expected significant increases in international trade activity.
What’s more, and especially important after the last three years of upheaval and continued economic headwinds, 81% of businesses surveyed said that exporting had made their business stronger.
“British businesses believe that export is integral to their success. It is positive to see exporters anticipating even further export sales growth in the next 12 months.”
Alibaba
If your business is new to exporting, or has just taken its first bold steps into international markets, Go Exporting can help you profitably achieve your goals.
Read more: Value of UK exports rises £1bn as trade deficit narrows
Our export readiness audits help businesses to establish what work they need to do in terms of training, processes, policies and management in order to smoothly transition into a successful exporting company.
Just want to read more about exporting for the first time? Then sign-up to our free Expert Exporter resource hub for a range of detailed guides on how to export for the very first time.
If you’ve ever wondered what it takes to go from a local sensation to a global powerhouse, then I’ve got a story that will captivate your imagination and transform your perspective. Brace yourself for an extraordinary tale of triumph against all odds.
Once upon a time, in the glamorous world of fashion, there was a renowned brand called ABC Fashion. Known for their chic designs and trendsetting styles, they set their sights on conquering international markets. But little did they know that their journey would be filled with unexpected twists and valuable lessons.
ABC Fashion believed that partnering with a distributor would be the key to instant market access. However, their path to success turned out to be far more complex than they had anticipated. The vibrant patterns and bold colours that made ABC Fashion famous fell flat among the more subdued and classic preferences of foreign consumers.
But ABC Fashion was not one to back down. They quickly realized that conquering new markets required more than just relying on a distributor. They immersed themselves in the local culture, studying fashion trends, consumer behaviour, and the preferences of the target audience.
With their newfound insights, ABC Fashion made a daring decision. They adapted their designs to cater to the local market, striking a delicate balance between their brand identity and the cultural nuances of the foreign market. And to their surprise, the tweaked designs began to resonate with fashion enthusiasts.
But their challenges didn’t end there. ABC Fashion realised that relying solely on a distributor was not enough to establish a strong market presence. They took matters into their own hands, setting up a dedicated team to oversee the distribution process and working closely with retailers to create a unique shopping experience that showcased their brand.
Through their perseverance and willingness to adapt, ABC Fashion emerged as a global success story. They shattered the myth of instant market access and proved that strategic planning, cultural understanding, and taking ownership of the distribution process were the true keys to success.
I wanted to share this incredible journey with you because it holds valuable insights that can transform your approach to market expansion. In our fast-paced world, it’s essential to embrace a comprehensive strategy that goes beyond traditional notions of success.
Now, take a moment to reflect on ABC Fashion’s story. It’s a testament to the power of perseverance, adaptation, and thinking outside the box. In the following sections of this article, we’ll delve deeper into the counterintuitive insights and practical strategies that emerged from their journey.
There’s an important lesson that emerges—a lesson that challenges conventional wisdom and provides valuable guidance for aspiring entrepreneurs. It’s a lesson that reminds us that success in the global market goes beyond relying on a distributor alone. So, let’s dive deeper and uncover the counterintuitive insight that can transform the way we approach market expansion.
A distributor does not guarantee instant market access
While partnering with a distributor can provide certain advantages, such as local expertise and distribution networks, it’s essential to remember that true market success requires more than a simple alliance. The story of ABC Fashion taught us that understanding the local culture, adapting our strategies to match consumer preferences, and taking ownership of the distribution process are vital steps on the path to success.
By embracing a comprehensive approach, we gain the power to navigate the intricate landscape of global markets with confidence. It’s about forging genuine connections, engaging in market research, and creating experiences that resonate with our target audience. This insight shatters the myth of overnight success and invites us to embrace a strategic, long-term mindset that paves the way for sustainable growth.
So, harness the lessons learned from ABC Fashion’s journey and apply them to your own ventures. Use them to navigate the intricacies of international markets and build a solid foundation for success.
Now that we’ve explored the importance of strategic planning and understanding the dynamics of international markets, it’s time to equip ourselves with the right tools to navigate this intricate landscape. That’s where the PartnerTrack Service from Go Exporting comes in—an invaluable resource designed to help businesses like yours find the perfect route to market. So, let’s take a moment to discover how this service can revolutionise our approach to global expansion.
Introducing the PartnerTrack Service – finding the right route to market. With this service, we work closely with you to define your ideal partner or distributor, identifying the specific attributes they need to possess to effectively navigate your market sector. Our expert team conducts a thorough search, meticulously vetting potential candidates to present you with the best options, allowing you to make the final decision confidently.
Program Highlights:
1. Understand exactly the ideal profile for your partner or distributor.
2. Search the target market for companies that match your ideal profile.
3. Contact potential partners on your behalf to assess their interest and suitability.
4. Evaluate their fit to your profile and the required attributes for success.
5. Arrange meetings, facilitating your ability to make the final choice of your ideal partner or distributor.
By leveraging the PartnerTrack Service, you gain a competitive edge in the market, ensuring that you find a partner who aligns with your vision and has the necessary expertise to support your growth. With our comprehensive approach and meticulous evaluation process, we eliminate the guesswork, saving you time, effort, and potential pitfalls along the way.
Take the next step towards achieving global market success. Click here to learn more about the PartnerTrack Service and discover how it can transform your journey to finding the ideal partner or distributor for your business.
Are you looking to take your business to the next level and capitalise on the opportunities that the global marketplace presents?
If you’re thinking about exporting for the first time, then you need this free Lunch and Learn webinar with Go Exporting CEO Mike Wilson taking place on 18th July at 12pm.
In the webinar, Mike will take you through the steps of developing your own export strategy as well as answering your specific questions.
You will learn;
- What an exporting strategy is and how to create one for your business
- Discover how to decide where to export and what markets to sell to
- Overcome challenges that you may face as you start trading overseas
The latest economic data from the Office for National Statistics has shown the value of UK exports rising as the trade deficit narrows.
As part of the ONS’ economic update, showing GDP returning to growth of 0.2% in April and 0.1% in Q1 overall, data highlighted how the value of UK exports rose in April alone by £1bn or 3.4%. Imports decreased by 1.4% (£0.7bn) at the same time, leaving the trade deficit at £12.3bn.
The deficit for goods narrowed by £107bn to £52.5bn, whilst the service industry continued to thrive with a surplus increasing £1.9bn to £49.3bn.
Read more: 50% of revenue for UK exporters comes from overseas but one in four still aren’t trading abroad
The ONS suggested that strong service-sector performance was the key reason why, overall, the economy stayed in the black during Q1 and returned to growth, masking falls in production output and a 0.6% reduction in construction activity.
Brexit causing drag on exports
Despite some more optimistic data from the ONS, the exports industry is still struggling to adapt to the post-Brexit business environment.
A report released this week from the UN suggests that all other G7 countries, aside from Japan, have outpaced the UK exports market. In fact, goods and services exports in the EU grew by over 29% between 2012 and 2021. In the UK, that figure was just 6%.
If your business is looking to increase international sales but are struggling to adapt to the new trading environment, Go Exporting can help.
We specialise in helping companies just like yours to research, plan and execute an exports plan to drive sales growth in key territories.
Learn more about how we can start to improve your international sales here.
