Smaller Businesses Struggle with High-Growth Markets

A new survey by the British Chambers of Commerce (BCC) shows that smaller firms need more government support to help them trade with high-growth markets. The survey of more than 8,000 businesses suggests that UK exports are held back by a focus on traditional markets, such as the EU, at the expense of larger, faster-growing economies. When asked where they export to, 88% of respondents sell their products or services to the EU. This compares to 47% of businesses that export to BRIC countries (Brazil, Russia, India and China), and 55% to other Asian and Middle-Eastern markets such as Thailand and Saudi Arabia. However, while nearly three-quarters (73%) of large firms trade with BRIC countries, only a third (32%) of micro firms do business in these markets. John Longworth, Director General o... »

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’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... »

Look Further Abroad for Opportunities

The British Chambers of Commerce (BCC) and UK Trade & Investment (UKTI) are encouraging firms to look further abroad to seek out opportunities. With the Treasury forecasting in its Pre-Budget Report that growth in the UK’s traditional export markets of Europe and the US will slow[1], the BCC and UKTI are encouraging firms to look overseas and seek out opportunities where they exist. However a business must do its homework on the market first. John Dunsmure, Managing Director of the British Chambers of Commerce said: “There is so much economic and political uncertainty at the moment. Many companies are very concerned about their future. Whilst we are not celebrating the falling rate of the UK pound there could be some competitive advantages to be gained by companies wishing ... »