exports

Total UK Exports rise 2.3%

Clothing revealed as fastest growing UK export industry followed by cars and cleaning products A new report conducted by Santander revealed the total UK goods exported rose 2.3% in the last year, with the export of all manufactured products witnessing 5.4% growth. The findings, based on the latest official ONS data, revealed that off all the industries, clothing, cleaning materials and cars witnessed the fastest growth. Clothing increased by 16% in 2013, car exports rose by 14% and cleaning materials by 10%. Machinery, cars and pharmaceuticals were the most significant manufacturing industries; accounting for over a third (37%) of all UK exports and with a total value of £113bn, followed by refined and crude oil which contribute £39bn in value. Other manufacturing sectors that experienced ... »

Exporting: Help for Exporters

Exporting: Help for Exporters

There are a number of places where UK small businesses can seek help for exporting – from researching websites to organisations that provide support through to financial assistance – Below are listed a wealth of sources of help for exporters. Your Bank Your bank can provide a range of help on topics such as managing foreign transactions, trading overseas in sterling, owning assets abroad, exchange rates and managing foreign exchange risks. For more detailed financial advice and guidance on issues that affect you, you should talk to the international section of your bank. If you can’t find the right person to talk to, you could contact the following people at the one of the five major banks who will point you in the right direction: Barclays John Bevan, Head of Trade and Working... »

Exporting: UK Trade and Investment Services and Contacts

Exporting: UK Trade and Investment Services and Contacts

UK Trade and Investment (UKTI) provide a wide range of services for small and medium sized businesses to venture into export markets. Listed below are a number of UKTI schemes and services with local contact points for regional offices. Passport to Export Provides new and inexperienced exporters with the training, planning advice and ongoing support they need to succeed overseas. Overseas Market Introduction Service A tailored service by UKTI’s overseas teams to access market and industry information, identify potential contacts or assist in planning an event. This service attracts a charge Export Marketing Research Scheme (EMRS) Offers support, advice and some grant funding to eligible companies wishing to research a potential export market. Export Communications Review (ECR) Assess... »

Exporting: 10 Key Steps

Exporting: 10 Key Steps

Follow these 10 steps for export success: 1. Research your Market Does your prospective foreign customer need what you are selling at the price that will yield you a profit? What is the competition and how will they react?   2. Implement an export strategy and review your capabilities Ask yourself: what would my business gain from exporting?   3. Construct an export plan Define how you will enter the foreign market. Finalise human resources and marketing strategy and allocate an adequate budget to cover export start-up costs.   4. Choose your sales presence Establish whether you need a direct sales operation. Or is an agent or distributor more effective? How will you manage your overseas sales presence?   5. Promote your product How are you going to market and sell your... »

Exporting: Late or Non-payment for Overseas Sales

Exporting: Late or Non-payment for Overseas Sales

The risk of late or even non-payment can sometimes be greater when doing business internationally. Ensuring you get paid for overseas sales is a combination of assessing risk, settling on acceptable payment terms and methods and considering insurance to protect yourself against problems. To minimise the risks of nonpayment, you should research the market conditions in your target country and the credit worthiness of potential customers before you start trading. There are also currency issues you need to consider. In some countries where there are restrictions on access to foreign currency, your customers may face problems getting currency to pay you. In this case, it’s worth insisting on a (confirmed) irrevocable letter of credit that secures payments according to the terms of the cr... »

Exporting: Transporting Goods Overseas

Exporting: Transporting Goods Overseas

Getting international transport right can be complicated and depends on the agreement you have with your customer or supplier. Your obligations should be clearly set out in a written contract using Incoterms – standard trade terms which state who is responsible for transporting goods, insuring the goods during transportation, paying duties and customs clearance. The best mode of transport for your goods will depend on the type of goods and how quickly they need to be delivered. You may need more than one mode, for example, sending goods by lorry to a port in the UK and then by ship overseas.  In all instances, the goods will need suitable packaging and labelling for transportation. You should clarify in advance who will be responsible for UK customs procedures, for freight and insurance, a... »

Exporting: Selling and Marketing Strategy

Exporting: Selling and Marketing Strategy

Selling and distribution Once the initial homework has been done, and you have decided on the export market/s to approach, you then need to organise your sales presence there. Depending on your product/service, you may be able to sell directly. For example, you might be able to sell over the internet or by exhibiting at local trade shows. Many businesses look for a partner who already understands the local market. For example: You can sell to a distributor who then sells your products locally. Note that a distributor takes title of the goods once the sales transaction is complete; and is responsible thereafter for any profit or loss in stocking and selling them on. You can use a sales agent who sells products on your behalf, or puts you into contact with potential customers on a commission... »

Exporting: Getting Ready to Trade Internationally

Exporting: Getting Ready to Trade Internationally

If you are serious about trading internationally, you will want to think about how to research, target and grow a presence in overseas markets. But how should you begin? How do you even know whether exporting is right for you? Before you commit to exporting you need to honestly assess your export potential – both in terms of the readiness of your business and of your product or service. The following steps should help you to do this. Assess your export capabilities Gov.uk’s introduction to exporting provides a quick, basic assessment of your export capabilities and the issues and practicalities you need to know about before beginning to export. The tool provides a useful starting point for discussions with a UKTI International Trade Adviser (see Who can help me export? and UKTI conta... »

Exporting: Opportunities for UK Exporters

Exporting: Opportunities for UK Exporters

There is an abundance of opportunities for UK exporters – and plenty of support to help you take advantage of them. The UK is a major trading nation, able to capitalise on the single market through the European Union (EU), as well as being ‘socially close’ in terms of culture and language to a number of major international markets – including the US. Many UK firms begin exporting by entering established markets such as these. The EU, with its open borders and shared import/export procedures, provides UK companies with unrestricted access to more than 500 million consumers, while the US continues to be the UK’s number-one export market, offering opportunities across a wide range of sectors. High-growth markets UK exporters are also increasingly embracing the myriad opportunities offer... »

First Rise in Exports for Nearly Two Years

First Rise in Exports for Nearly Two Years

Small manufacturing firms are starting to benefit from the weak pound, with export orders stabilising after seven consecutive quarters of decline, figures from the Confederation of British Industry (CBI) have revealed. The CBI’s quarterly SME Trends Survey of 418 firms found that 27% saw their orders increase between November 2009 and January 2010, while 25% saw their orders fall over the same period. The resulting balance of +2% is the strongest figure since January 2008. The CBI said exports were being helped by the “relative weakness” of the pound, which has recently dropped slightly against the US dollar. The Manufacturing Technologies Association’s (MTA) director general, Graham Dewhurst, said the CBI figures were welcome news. “The weaker pound is having... »

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