Exporting

Business advice articles on the subject of exporting to help your business grow; Everything from Export Tips and Help for Exporters to UKTI services & contacts.

Optimising Foreign Exchange For Online Sellers

Optimising Foreign Exchange For Online Sellers

One of the many advantages for retailers trading online is the opportunity to reach a new, much larger, international consumer base. Selling online means you can cross borders with relative ease, promoting business growth and improvement in new markets. Experts have predicted that by 2020, 50% of global consumers will conduct their purchases online – a staggering statistic that goes to show the opportunity to be seized here. In the United States, meanwhile, the average online spend already amounts to over $1,000, and is set to rise further. However, online selling isn’t entirely straightforward, and currency exchange is one area that can end up costing retailers if it isn’t adequately addressed. For anyone tackling foreign payments for the first time, here are some tips for getting it righ... »

How to Manage Export Finance

How to Manage Export Finance

Exporting tends to be more financially demanding than selling in the UK as consignments are usually larger, lead times are longer and the risks are more difficult to control. Negotiating an export sale involves balancing the risks and the costs to you and your customer. At the same time, you may need to take into account the problems of handling payment in foreign currencies. This guide will explain how to negotiate the payment method, choose the right financing option and deal with foreign currency. First steps to exporting The terms of an export sale must satisfy both you and your customer. You should agree to the ‘terms of delivery’, covering the division of responsibility for transport costs and for the risk of loss or damage in transit (Standard international terms are set... »

7 Golden Rules for Driving Export Success

7 Golden Rules for Driving Export Success

Exporting is a crucial element if businesses are to grow, create jobs and boost the economy; UK Trade & Investment (UKTI) research shows companies that export can see a 34% increase in productivity within the first year of exporting and are 11% more likely to survive. Since we started exporting in 2011, we export nearly a quarter of our turnover, representing over £1.2m. We now export luxury cars, parts and accessories across the globe and have doubled our team to deal with business growth. Of course, exporting is not without its challenges. Here are some of the tips we’ve learned along the way to help your business achieve export success: Do your homework and research the market Research is a vital first step to assess if there is a market for your products. We’ve built relationships ... »

An Introduction to Exporting From the UK to China

An Introduction to Exporting From the UK to China

China has been held up by the western media as the global growth engine. While China is not only about low cost manufacturing, its market is still fairly hard to reach for small businesses. Exporting from the to China is a huge topic that covers everything from laws and regulations to a distinct culture and consumer behaviour. This article gives you an idea about the obstacles you face when reaching out to the 1.3 billion Chinese consumers. Choose a Model There are many different models for reaching the Chinese market. Many UK exporters assume that you need to enter a joint-venture with a Chinese company in order to get market access, which is not true, though it is one of the options. Let’s look at this and others: Establishing a joint venture with a local partner Why? Some industries are... »

10 Reasons Why UK Businesses Should Export

10 Reasons Why UK Businesses Should Export

1. Exporting allows you to access new sources of revenue By keeping your trade in Britain, you are only allowing yourself to make money from British customers or clients. So, for every new market you introduce your business to, you could be doubling or trebling your revenue potential. 2. Exporting means you can spread risk across a wider range of markets Businesses which are active in more than one market feel the impact of region-specific issues that affect trade less severely. If, for example, you operate in five different markets and the government increases the tax that you have to pay in one, you’ll feel it less than if all your trade was in that market. 3. Exports will benefit the UK economy More than half of the British economy’s growth is driven by businesses that trade internation... »

Small and Medium Enterprises: Stay at Home or Play Away

Small and Medium Enterprises: Stay at Home or Play Away

As a small business owner you need to be constantly thinking how your business can grow and develop. Standing still and letting things stagnate is one of the worst things you can do. But with these uncertain economic times it can often feel as if it’s the only thing you can do. Cutting costs and trimming the excess is always a valuable exercise, but it’s important to think about what the next steps for your business are, with one of the biggest questions is whether you should expand into trading overseas. The Current Position A recent survey into around 4,000 small and medium-sized enterprises (SMEs) found that despite growth in the second quarter of 2012 for many sectors including manufacturing, construction and transport; many of these businesses did not have the desire to trade outside ... »

Starting an Export Business: All You Need to Know

Starting an Export Business: All You Need to Know

When launching a new business you need to ensure that you have thoroughly planned for every single aspect, your business should go through rigorous research and planning stages ahead of the launch date to ensure keeping ahead of the game. Now is an excellent time to sell your products globally, especially considering that the world’s attention has been recently drawn to the UK as a result of the Olympic and Paralympic Games. Also, the current financial climate in the UK, makes concentrating on export markets a very attractive proposition.  However, it is vital that you are equipped with the knowledge and organisational skills to succeed and even before you come close to shipping, there are many considerations you have to be conscious of if you’re looking to start an export business. You wi... »

A World Awaits for UK Exporters

A World Awaits for UK Exporters

There are opportunities for UK exporters in all corners of the world. They include: Brazil – The value of UK goods exported to Brazil grew by 24 per cent to £2.2 billion in 2010. China – China has become the UK’s ninth largest goods export market and British export activity there rose by 418 per cent from 2000-2010. France – The UK’s fourth-biggest export market. India – UK exports to India grew 45 per cent between 2005 and 2010. Ireland – Widely considered the ‘easiest’ overseas market for UK exporters, who sold goods worth £17 billion there in 2010. Mexico – UK goods exports to Mexico increased by £207 million in 2010. 24 per cent of internationalised UK firms said that they are already doing business here or are ‘very’ or ‘quite’ likely to do so in th... »

How to Research Export Markets

How to Research Export Markets

Exporting is one of the biggest steps your business will take, so it is vital you do your homework. Exporting to a new market will be one of the most difficult and risky tasks your business will have to undertake. Exporting introduces a whole host of unknown variables into the equation, so it is absolutely vital you do your homework first and thoroughly research the market before you commit. This article will help you conduct the research process in a structured and thorough manner, ensuring your first-time export operation maximises its chance of success. We cover how to identify markets with strong potential, assess whether your goods and services will fit, how to find and brief a research agency, and more. How do I identify potential markets for export? Follow these steps: Define your c... »

Making and Receiving Payments Within Europe

Making and Receiving Payments Within Europe

An industry-wide initiative aims to increase the speed and reliability of making and receiving payments within Europe. This guide explains BICs and IBANs, and looks at: Sending a payment to Europe Receiving a payment from Europe Sending a payment to Europe Since January 1, 2006, it has been compulsory that all payments to and from Europe must include a Bank Identifier Code (BIC) and International Bank Account Number (IBAN). What are BICs and IBANs? BICs and IBANs fulfill a similar function in Europe as sort codes and account numbers in the UK, ensuring that payments can be quickly and accurately processed. What does an IBAN look like? IBANs usually consist of letters and numbers. Here are some examples of European IBANs: Austria: AT123456789101112131 France: FR123456789101112131 Germany: D... »

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