Across the UK the number of businesses exporting overseas is rising, making the UK the world’s 10th highest export nation with £636 billion products and goods being exported. Exporting can be hugely beneficial for your business, facilitating a huge growth in revenue.
Find out below how exporting can benefit your business and enable business growth.
Minimise business vulnerability
Exporting to multiple markets allows you to develop various streams of revenue and minimise the risk of market downturns affecting your business. Exporting enables companies to reduce their vulnerability to any individual market fluctuations. In turn, your business becomes more stable and secure and can continuously build a steady flow of profit.
Leverage demand for British products
According to research from Barclays Corporate Banking, 64% of consumers in India, 57% in China and 48% in UAE are prepared to pay more for goods from the UK. Demand for British goods across the world has never been higher and ‘Made in Britain’ can serve as a useful marketing tool. International consumers feel that products exported from the UK are guaranteed to be high-quality.
Gain a competitive advantage
It’s not easy trying to grow your business and stand out in our competitive domestic marketplace. Having an international reach will bolster the profile of your business within the UK, giving you an edge over other businesses. You’ll be exposed to a wider net of contacts and can use those opportunities to strengthen your business’ profile.
Reach more consumers
Through exporting you can increase the number of consumers that your product or service is marketed to. By finessing your global marketing technique and tailoring your strategy to specific markets your business can be attractive to a much larger range of people. If you offer a niche product or service then this can be a huge factor in driving profits.
Tap into DIT support
Exporting need not be an intimidating concept; the DIT exists to provide businesses with the support and guidance needed to get started exporting. We can provide you with a personal International Trade Adviser who will offer expert advice on market selection, e-commerce, language and culture and a range of other topics.
Get in touch with your local ITA.
We have an experienced team of International Trade Advisers ready to help you become a global success story. Get in touch today to discover the support you could receive to grow your business overseas.
T: 0345 222 0159