Time to cash in on the global prizes

International Trade week takes place at the beginning of November and the team at Glasgow Chamber have been working with a range of members who are looking to grow their business internationally.

International Trade Week is now in its third year and comprises a series of events aiming to encourage UK businesses to export to the world and showcase the long-term support that is available to help.?We know through research into the benefits of exporting that businesses become more resilient and grow faster when they engage in exporting than those who do not. It also leads to increased productivity and the ability to offer higher wages to their staff.

Sadly, we also know through research that not enough Scottish SMEs consider exporting as an option and we are still over reliant on the top 50 major Scottish food producers, whisky brands and engineering and manufacturing businesses who generate approximately half of the value of Scottish exports.

The opportunities can be vast and both Scottish and UK Governments are continuing their commitments to boosting exporting.?Just last week the Department for Business and Trade announced 10 new Export Champions for Scotland had been appointed, joining the 13 appointments they made last year, ensuring a broad range of sector expertise is in place.?

The Scottish Government has equally been committed to helping create more exporting firms and their International Trade Partnerships programme supports local Chambers, through Scottish Chambers of Commerce , to encourage our members and other businesses to participate in international trade missions.?

The Glasgow Chamber has taken a leading role in this activity and this Autumn we will be launching even more international trade missions to get Scottish firms connected to overseas markets. We have identified key international markets which reflect the abundance of talent we have here, and the demand for our services and products overseas.

Germany is one such key target market. The Chamber embarked on a trade visit to Germany in March this year, which focused on the hydrogen energy sector. This was followed up with a return trade visit of a business delegation from Bremen at the end of August.

In 2022, Germany was Scotland’s fourth-largest export market and Scottish exports to Germany last year were worth ￡2.5 billion (seven per cent of total exports for the year). These relationships will be enhanced by the Bremen Expo trip this week led by SDI and supported by Glasgow Chamber and its members.

Following the Chamber’s trade visit to Shanghai and Hangzhou in 2019, the Chamber has been working with partners in China to further build relationships and secure support to help Scottish businesses export there. We are now planning a further Shanghai trade mission from 3 to 10 November for smaller Scottish businesses aiming to make a mark in China and take advantage of a collective approach with like-minded businesses in this highly lucrative market.?

We also launched our Southeast Asia Business Network in June and aim to provide market entry support and advice for Scottish businesses interested in the region, networking opportunities and a possible trade mission particularly to Singapore, Indonesia and Thailand.

This year we are also planning on leading a delegation of businesses to the Cop28 event in the United Arab Emirates between 4 and 7 December. This is a major global climate action gathering and will involve high profile businesses and events, including the facilitation of Glasgow firms with other senior international business delegates who are tackling climate change. The networking opportunities include engaging Dubai and Abu Dhabi businesses, along with a number of other international delegations.

We all collectively have much to do if we are to significantly boost the number of Scottish exporters and value of their products overseas beyond the approximate 14,800 companies which currently export goods or services.?However, we have a wealth of brilliant innovative businesses here and a vast array of business support to grab a far bigger share of the global prize.

This article was first published in The Herald on Wednesday 27 September 2023