WHY EXPORT?

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In this new weekly newsletter, I will share with you all the Export Best Kept Secrets that I have published in my Export Guide but you are also welcome to grab a book right here and keep it for your daily reference.

WHY EXPORT?

“The UK has 0.8% of the world population and without International Trade your business is missing out the other 99.22% of potential buyers for your product/service” – Luis MULET

Why Export? and indeed why should you? If your home market still offers as much opportunity as your firm can cope with, you might be wiser to cover that demand first. Exporting does, of course, spread the risk. Declining demand in one market may be replaced by increasing demand in another. And once you are established in export markets, you will be meeting overseas competition on its home ground and will have more confidence that your home market is not suddenly going to be undermined by imports.?

The decision to commence exporting is neither easy nor one which should be taken lightly. The export market must be seen as an extension of your natural market, not one you can sell to when the home market is a little slow and then forget about when it picks up again. You must, from the start, be as committed to the export market as you are to the home market. Remember that if there is a demand it will be satisfied. If you do not satisfy it, your competitors will be there, ready and more than willing. I could go on here, but I think you better digest this first.?

Once you have decided and want more advice on where and how to start you can start reading my book: Export Best Kept Secrets.?

Here are 5 reasons why to export:

1) Exports are a bright spot in the UK economy and are a driver of economic growth: 2018 trade figures brought the UK's total goods exports for the year to a record high of ￡646 billion. The EU, taken as a whole is the UK’s largest trading partner. In 2018, UK exports to the EU were ￡291 billion (45% of all UK exports). UK imports from the EU were ￡357 billion (53% of all UK imports).

2) There is vast untapped potential to increase UK exports, as well as many reasons for UK businesses to pursue opportunities in worldwide markets: More than 70 percent of the world’s purchasing power is outside of the United Kingdom. When we consider how best to grow the UK economy and support Britons jobs, it makes sense to look at markets beyond our borders where demand is growing. Over the next five years, 85 percent of the world’s economic growth will occur outside of the United Kingdom.?

3) Exporting is profitable for businesses of all sizes: On average, sales grow faster, more jobs are created, and employees typically earn 15–20 percent more than in non-exporting firms. Companies that export are generally more resilient to economic fluctuations than those that do not.?

4) British products and services are in demand worldwide: UK exporters benefit from the cachet of “Made in the UK.” UK companies are known throughout the world for high quality, innovative goods and services, after-the-sale customer service, and sound business practices. These products and services are helping improve lives and livelihoods around the world.?

5) The export process is more streamlined than ever: Many companies don’t export or realize their full exporting potential because they believe it to be too burdensome or complicated. Today, however, the exporting process is much simpler with the Internet, multiple new shipment options, trade financing, and DIT government programs that can assist with every step of the process.

If you wish to have a copy of the Export Best Kept Secrets you can get it right here