As this can make or break your exporting venture, it’s quite rightly a key concern for many businesses. The good news is there’s plenty of help available, like the UKTI’s Overseas Market Introduction Services, which provide support during overseas visits, identify potential business partners and key contacts. Our International Managers can also be a valuable source of contacts and information.
Guide to exporting
What you need to know about exporting
10 reasons to start exporting
It could be that you’ve been approached by international customers interested in your product or service. Or you’re looking for a new revenue stream to improve your business.
Whatever the reason for considering exporting, the good news is that there’s never been a better time to start.
1. Business growth
It’s the biggest appeal of exporting – and a big benefit. 37% of businesses that now export said they’d reached their limit in the UK within 3 years. Also, 27% of exporters achieve year-on-year growth of 40%1.
2. British products and services are in demand
Simply by being British, your products and services are in demand in traditional, established export markets like Europe and the US, as well as in high-growth economies such as China, India, Russia and Brazil.
3. The government is behind you
Barclays and UK Trade & Investment are working together to inspire and support UK businesses to sell overseas, and to connect companies across the world to the UK marketplace. We are proud to support the 'Exporting is GREAT' campaign, which presents real-time export opportunities in all sectors across the world.
4. Access more customers
The EU alone can provide you with access to 500 million customers. Consider opportunities in India and China and that number rises into the billions.
5. It’s easier than you think
Of the businesses surveyed in a recent Barclays report 86%2 stated that exporting went as well as they were hoping, with some finding it easier than they thought it would be.
6. Improve your business profile
Talk about how your product or service is sold abroad and you’ll find that your credibility and reputation significantly improves.
7. Increase turnover
More customers will want more of your products – business surveyed said that exporting was responsible for increasing their productivity by 34% in the first year alone3.
8. Give your products a new lease of life
You may be reaching saturation point with your products or services here in the UK, but if you take them abroad you could extend their lifespan with new audiences.
9. Spread your risk
Given the competitive UK market, moving your business away from complete domestic dependence could be a good move. With additional revenue streams potentially coming in from international markets, you could spread your risk across a wider range of customers.
10. It’s not just for big business
The internet has thrown open exporting to small businesses, thousands of which already successfully trade with both traditional markets like Europe and the US and lucrative, high growth economies such as China, India, Russia and Brazil.
Common exporting issues
Having helped thousands of UK businesses to start exporting, we’ve drawn together common exporting issues you might face with ideas on how to handle them.
Finding customers and business partners
Legal, regulatory and customs issues
Language and cultural barriers
Underestimating exchange rate risks
Find an International Manager
Our team of International Managers covers the UK, providing businesses with expert support and guidance on trading overseas.
Other services that may interest you
An easy way to collect payment for your exported goods
Stay in control of your goods once they’ve been dispatched – so you know you’ll get paid.
Get paid for exported goods while covering your trade risks
Get a guarantee of payment before you commit to sending goods.
Everything you need to take your business worldwide
Get free insights into local markets and save on costs with exclusive discounts. Plus, tools and services designed to keep your business banking quick and easy.