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The budget to help UK business invest and export

George Osborne MP
George Osborne has promised that the budget on Wednesday 19th March will focus on getting British businesses investing and expanding their activities overseas so that the economy can benefit from an export led recovery.

We look forward to seeing what measures will be included in the budget to achieve these fine objectives.

There is no doubt that many businesses that are successful in the UK could expand their sales and generate more profits if they become a successful exporter.

When exporting, a business has to clearly understand the complexities of international trade and the many rules and regulations associated with it.  If you do not have people who understand export procedures and controls then there will be inevitable difficulties.

I spoke with one of our international trade experts, John Spargo, and asked him whether he could summarise the key points to be considered by businesses that want to be successful exporters.

Here are five points for you to consider.

  1. Make sure you obtain expert advice and take advantage of the help and information freely available from the Government agencies.
  2. Make sure you have people dedicated to exporting who are not likely to get drawn into issues associated with sales in the UK - if you cannot or do not want to develop your own in-house expertise consider using an export management company.
  3. Make sure you grow your export sales step by step and avoid taking on too many new markets at once.
  4. Make sure you understand the cultural differences in the various parts of the world - a marketing technique that works in one country might not work in another.
  5. Make sure you comply with all the EU regulations when exporting and the various customs regulations in the countries to which you wish to export.

Other good advice that John gave was not to give up at the first hurdle and that senior management should ensure that there are sufficient contingencies in place to help overcome the initial difficulties that you will experience.

If the correct time and investment is given to ensuring all relevant people are fully aware of the complexities of exporting, your organisation could significantly benefit from trading internationally. UK Training offer a range of seminars which will help you get to grips with international trade – view them here.

Stephen Smith
Managing Director
UK Training (Worldwide) Limited

 


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