How can we make exporting effortless for future business?
Focus on International Trade
Exporting has often been perceived as doing business, the difficult way, while the tangible benefits as a driver of business growth are often overlooked. Simply put, exporting is about opening and taking new markets which certainly drives profit and growth.
The picture of “cranes lifting container goods onto ships” is often what comes to mind from my experience of talking with potential clients. .My view is that International Trade best explains the reality that the Service sector accounts for a sizeable part of exports that drives and helps sustain the UK balance of payments.
However, examples from Services sector would be;
Universities setting up campuses in overseas markets.
BBC Worldwide accounts for more than 50% BBC revenue .
Architects/Construction firms winning bids to design/build high value projects overseas
eCommerce, with exports being done using a digital platform, is an enabler of business growth and applies across business size; from micro, small, medium, corporate to multi-national. It’s created a situation where nimble and agile companies can grow and take market share
The Creative and Software sector are enablers of economic growth and have also given rise to UK Inward Investment, being driven by influx of foreign capital. The key focus here being the value and protection of Intellectual Property (IP).
Its also about Process
Doing business overseas raises the issue of understanding risk, cashflow and the expertise involved. This leads to the fact that business will need to have a process in place to grow successfully. This route is often easier for the medium sized business sector (MSB) compared to the small business sector (SME) who are short of resources e,g. manpower and finance.
The best approach for SMEs then would be to have a framework wherein they can outsource the process, outsourcing and expertise needed. One of the channels then, would be the use of Export Clubs as a forum to share knowledge and experiences with peers, service providers and institutions. The East London Export Club has held events this year to help ;
— Janice B Gordon (@Janicebg) July 21, 2015
Most importantly the ecosystem has to be considered and this is where UK Government support has always been the “binding glue” to grow and sustain exports. At the core should be the making exporting effortless for business.
The Exporters Journey
The UK Trade & Investment is the government body responsible for export growth, and the new conservative government is now driving an impetus to achieve Govt export targets of £1 trillion by 2020. A new initiative has been undertaken @ with the mandate to drive policy to achieve this Govt. target for 2020. #ExportJam was held on 28-July-15, UK Nationwide, and included a virtual hangout on @. The focus this time being to view “Exporters as the customer” and use their insights and experience to formulate govt policy that would be beneficial to export growth. The one-day forums, replicated nationwide, was a great experiental journey and the feedback has been very good. The next teps then is for the policy to be taken to make concrete decisions to be implemented by the new conservative government.