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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: Support Services for UK Exporters

Exporting: Support Services for UK Exporters

A wide range of support services exist to help UK exporters and would-be exporters to tackle virtually all of the issues and challenges which they are likely to face, and help them become established in international markets. Following are just some of the many organisations which can help you get started on your exporting journey. UK Trade & Investment UK Trade & Investment (UKTI) is the Government Department that helps UK-based companies succeed in global markets and assists overseas firms in bringing their high-quality investment to the UK. UKTI has a global network of 2,400 staff. Its International Trade Advisers (ITAs) around the UK have years of business experience to draw on when advising companies. In 96 markets based in British Embassies and other Diplomatic offices around... »

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: 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: Key Questions to Ask Before you Export

Exporting: Key Questions to Ask Before you Export

Key questions What are the unique selling points to your business proposition? Will there be a market for your products and services? Are there any legal barriers to your business model? Where in the market would you start? Do you have sufficient resources (management time, project finance and expenses) to fund your overseas projects? Who will be leading the project within your company? Do you need to work with an overseas partner to succeed? Can you communicate with them effectively? Have you evaluated business risks (such as protecting your intellectual property) and conducted research and due diligence? Do you know how to secure payment and get the right quality products? Export Case Study – WOW Toys Quality toy manufacturer WOW Toys decided to adopt an export strategy shortly aft... »

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: How Do I Go About Exporting?

Exporting: How Do I Go About Exporting?

Companies always face a degree of risk when they decide to start exporting; and smaller businesses, without considerable in-house resources, may feel particularly exposed. But the rewards for those who compete successfully are considerable. This guide starts by considering the benefits of international trading, then takes you through the stages of assessing your own company’s export suitability, identifying and selecting potential markets and describing the first few practical steps you will need to take. It also points you towards the many sources of advice available to British exporters. Why export? An increasing number of companies are driven to consider exporting because of increasing globalisation or the new trading opportunities that the Internet has provided. In truth, there are man... »

Catalyst UK Gives Exporters a Boost

Small-business owners considering entering overseas markets can access free one-to-one advice from experts, following the launch of a global network, Catalyst, by UK Trade & Investment (UKTI). Funded by UKTI, the network will match small firms looking to export individual business leaders from larger international firms who have overcome similar problems. The scheme is aimed at small first-time exporters that want to break into “difficult” markets, such as Russia, and are facing a particular barrier that is holding them back. The initiative was piloted in May last year and has now been rolled out. It has 100 high-profile members, which it aims to increase to 500 in two years. Head of Catalyst, Rebecca Robson, said that business leaders with experience of exporting will be matched with ... »

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