Race to a trillion…

by Samantha Bridger, Bridger Consultancy

The government has just announced a “Race to a Trillion”. Wow, that does sound impressive.  It certainly is a big number, but what does it mean and more importantly what does it mean for you?

It means simply that the government has announced a new export strategy to get UK companies exporting and they want you to start exporting if you haven’t started already.

If you aren’t exporting, well that isn’t so surprising. 

Are you exporting already?

Many companies are put off exporting because they think it isn’t for them.  Some reasons businesses state for not exporting are:

  • We are too small
  • Exporting is too difficult
  • We don’t know anything about it
  • We don’t know where to start
  • Exporting is too scary / risky

In my experience, most companies start exporting accidentally. This is often an enquiry via the web or exhibition, which leads to an order and the order gets fulfilled.  It is very rare that a company starts thinking about developing an export strategy without that kind of catalyst.

Even then, many businesses don’t think they are really exporting. Only when this leads to larger sales volumes or invoice values, do businesses start to realise they are actually exporting. They see the potential and start to think more seriously about what they are doing.

Huge benefits for exporters

The benefits of exporting are huge.  Exporting increases the number of markets a company is active in and will increase turnover and profit, faster than for non-exporting companies.  Selling into different markets means that your company will be more protected from downturns or fluctuations in the domestic market and your company will enjoy better financial stability. Exporting also adds to the economic growth and health of the UK.

Whether you are trading internationally or not, I get that it can be difficult. Britain in Business gets that too, which is why we are aiming to support you, show you where you can get help, give you tips and tricks and help you navigate the work of international trade a bit more easily. 

Over to you

The big question is what would you like to see here? What difficulties are you experiencing and what would you like more information on?

Asking this question on LinkedIn recently, I found the subject most helpful right now is help with customs.

Please feel free to comment, ask any questions you have and let me know what you want to know more about.

Tags:

Looking for a money transfer service? Request for a call today!

Leave a Reply

Your email address will not be published.