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You are here: Blog Trade Talk with Liz Basing of UK Trade & Investment

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Liz Basing, International Trade Director for the East of England, UK Trade & Investment, offers her unique insight on trading overseas.

http://tinyurl.com/UKTIEast


Export Week 2013 – Capturing the High Growth ground

When it comes to exporting the East of England like other parts of the UK still sends more than half its exports to the EU.

The US is our single largest market (and growing) but that said East of England companies are doing great business further afield.

Whilst many developed economies are still struggling with slow recovery, exports to less familiar markets with higher growth rates and bigger opportunities are growing apace.

In 2012 the East of England showed the highest growth of any English region in exports to non-EU markets. China is established as a top 10 market for the region, exports of goods to Brazil were up 19 per cent and to South Africa up 21 per cent.

Developing markets are changing the face of international business – with many millions of potential new customers, low-cost communications and improving infrastructure it is these growing economies which offer today’s and more importantly tomorrow's opportunities.

Striking out into new and unfamiliar markets can be daunting but the prize is worth an investment of time and effort. And of course UKTI is here to help, which is why we are hosting an Export Week from 13 -17 May dedicated to High Growth Markets.

This Export Week boasts a programme of events and activities to inspire business in our region to export to countries including Brazil, China, India, Nigeria and Turkey. Events will take place right across the region, from the Hethel Engineering Centre in Norfolk via Cambridge to Welwyn Garden City in Hertfordshire, offering something for both the novice and experienced exporter - from seminars and master-classes to networking events. So whether it is Web trading and E-Commerce or the burgeoning Education market in the Middle East, there is something for everyone.

The past year has been a challenging time for the region’s companies but I am convinced that almost every company– from single-owner operations to large corporations - should aim to export its products and services. This year’s Queens Awards featured 24 companies from East of England, including 19 in the category for International Trade - a timely reminder that there is still excellent business to be had in the markets UKTI are focussing on during Export Week.

And when research shows us that companies who export make a 34 per cent productivity gain in their first year of international trading and are 11 per cent more likely to survive than those who only sell in the UK, it’s clear that exporting is good for business of all sizes.

Once you have decided to take up the challenge we have an array of support packages to help, from programmes for first time exporters to tailored research, trade missions and specific help for larger companies. Our colleagues in Embassies, Consulates and High Commissions across the world are ready to share their knowledge and contacts, too, so there’s a fantastic team in place to support your export plans.

I therefore invite you all to join UKTI at one of our regional Export Week events, to find out how UKTI can help your business grow and prosper through exporting to exciting new markets. We’ll be right beside you every step of the way so take that first step today.

Find out more about Export Week events in the East of England on our dedicated pages at www.exportweek.ukti.gov.uk and more about our full range of services at www.ukti.gov.uk or by phoning us on 0845 641 9955.

European exports: From hangover to Hannover

The end of our business year is always a busy time and this year is no exception.

Our big set piece this month was Exporting for Growth at Newmarket. It’s a tried and tested formula and one that works well for our clients – there’s no substitute for a face to face conversation and as ever we were able to bring in a large number of commercial officers and offer East of England companies time with someone who lives and works in their target markets.

This time already?

Every time I log onto the net at home a kindly advertiser reminds me how few sleeps there are to go to Christmas – I suppose counting shopping days is a bit old hat in the 24/7 economy.

UKTI adds power to export insights

A year ago, Lord Green, Minister for Trade and Investment, challenged British business to go for growth through international trade.

Quite simply, companies that export are more productive, grow faster and perform better than companies that don’t and the job of UK Trade and Investment teams across England is to encourage and support more firms to do more and better international business.

Croatia and South Africa in the spotlight

My last blog talked about UKTI’s Olympic events. This week, we have our final two, on ICT on Wednesday in Ipswich and Digital and Creative Media on Friday at the Hauser Forum in Cambridge.

Game On!

In the week that sees the start of the Olympic Games it’s not difficult to think of a theme for July’s blog.

The Numbers Game

Once a quarter, at about this time, the trade statistics come out. You would have to be living on the moon to escape the numbers in the news about Eurozone members in difficulty, so waiting for the effect of the Eurozone problems to show up in the trade statistics has been a bit like waiting for the other boot to drop.

Based on the statistics just out, the year on year figures still look pretty rosy with a 14 per cent rise in exports to the EU 27. Look at the rolling year and you’ll find that the region sold fractionally less to Europe in the first three months of 2012 than in the last three months of 2011.

Going out is the new staying in

My feet didn’t touch the ground in the week after I came back from leave but I’ve just had a straight day in the office and a chance to catch up on the inbox.

Hair today – the world tomorrow!

One question I am often asked is: ‘Can any company export?’ I usually reply that international trade can work for a huge variety of different kinds of business, but I have to say that hairdressing is not one that comes immediately to mind. Well, sometimes it’s good for the soul to be proved wrong.

Wired into Africa

Like many of you reading this I spend far too much time behind a desk, so it’s all the more enjoyable when I do get the chance to meet some of the people out there at the sharp end of exporting.

East Meets East Competition

What are stereotypes if they’re not there to be smashed? We did a bit of that when my team of judges met to decide on the winners of UK Trade & Investment’s East Meets East competition. That was part of our initiative to get companies across the East of England to realise the huge opportunities open to them on the other side of the world – and realise how we can help.

By 2030 China, India, Japan and their smaller neighbours across Asia and the Pacific will be leading the world, with an economy out-stripping even the mighty G7, the group of top industrialised nations of which we’re a part.

Business Weekly readers won’t need reminding how big a deal the Asian economy is these days. But only a fifth of SMEs in Britain export at all – and it is hardly surprising that Asia may seem just too distant, and a challenge too far, for many smaller businesses in the East of England, especially if they are just starting up. But that view of the world needs to change.

It was really encouraging to thumb through the entries for the East Meets East competition and find so many companies that obviously are up for the challenge.

Stereotype number one: that we’d only get entries from the usual suspects. In the East we don’t only have companies that are doing wonderful things in the medical, pharma and bio-tech sector that everyone knows – but also lots of really good engineering companies. The over-riding impression was the range of entrants – everything from financial services to retail, from electronics to engineering.

And, gosh, weren’t they good? In fact there were very few entries that we didn’t think would work – but our judges, like Lord Sugar and the Dragons, had to pick winners.

Stereotype number two: that every bright twenty-something is after a high-paid job in the City. I went to see the overall winners – a Norwich engineering company with big ambitions in Asia – and met some young engineers there who gave the lie to the idea that our top graduates just want to make a quick buck in the City. There is an awful lot of very high-calibre engineering talent out there and it is brilliant to see a company in the East of England making use of it.

For the sake of our economy, we’ve got to hope they stay in engineering to develop their skills and continue Britain’s world-leading traditions. What PPI Engineering does – designing, supplying and servicing electric motors and generators for the energy industry – may not be metal-bashing as we have traditionally known it, but it is certainly continuing Britain’s great traditions of innovation and enterprise that date back to the Industrial Revolution.   

PPI’s prize is £3,000 of market research support from UKTI – towards the cost of one of our Overseas Market Introduction Service (OMIS) packages, specially designed for companies trying to break into new markets. They are going to use it to investigate potential partners in China, India and South Korea, specifically with an eye to opportunities in renewable energy.

The two runners-up – winning £1,000 of business help from UKTI - were electronic and mechanical instrument makers IMC Group and its Lamerholm subsidiary, from Letchworth in Hertfordshire, and Anglia Ruskin University, based in Chelmsford and Cambridge.

IMC will be using its OMIS package to find a specialist distributor in China for the high-tech shock recorders it makes – keeping an eye on ‘hidden’ damage to equipment in the oil and gas industry in transit or in daily use. Anglia Ruskin will be using it to research new markets for their unique training programme in keyhole surgery for sufferers from bowel cancer.

But the good news is that everyone can be a winner. We will be contacting all the companies who entered to try to spell out the benefits of an OMIS package – to help their business dreams come true. You can find out more about the Overseas Market Introduction Service at http://tiny.cc/OMIS

ENDS

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