Professional Documents
Culture Documents
Top Tips On Exporting
Top Tips On Exporting
Top Tips On Exporting
Exporting goods and services helps British businesses to grow, creates jobs and has the potential to add 30 billion to the UK economy.
UK Trade & Investment (UKTI) can help businesses of all sizes break into overseas markets. Research shows 85 per cent of UKTI clients reported that exporting had enabled them to achieve a level of growth not otherwise possible.
2 3 5
Start Small
Seek help
Take advantage of organisations that specialise in supporting businesses to trade overseas, such as UKTI, UK Export Finance (UKEF), Chambers of Commerce, banks, lawyers, freight forwarders and your accountants. Their support will be crucial; exporting is a team game.
It may be tempting to try and take on the world on day one, but focus on one or two countries at rst.
Do your homework
Use our expert ITAs to help you research specic countries through our Overseas Market Introduction Service (OMIS). Research who your potential customers and partners might be, as well as your competitors. If you want to undertake detailed market research, we can help fund a project with our Export Marketing Research Scheme (EMRS).
Take part in overseas Events, Trade Fairs and Market Visits to test markets. These will present opportunities to talk to potential customers and appoint agents or distributors. UKTIs Trade Access Programme (TAP) provides grants to companies to attend trade shows and your ITA can provide funding to participate in Market Visits worldwide.
7 8
Make sure you get paid
As obvious as it may sound, it is very easy to overlook the risk of non-payment. You can establish the credit rating of potential clients in many countries and guard against non-payment through, for instance, a letter of credit or credit insurance accessed through your bank. UKEF can provide advice and insurance where the private market cant help.
9
10
Have patience
Setting up overseas may not move as quickly as you expected; local customs and legislation can sometimes slow things down. In many countries, business is based on close personal relationships and trust, so do not be disheartened if you do not come home with a sales order on your rst visit to the market. You will get out of exporting what you put in. The rewards of dealing with thriving high growth economies are out there so it is worth investing your time and money.