It's a simple premise; a rise in UK exports relative to imports would mean a reduction in the UK's trade deficit and a welcome boost to the economy. Individual exporters, particularly small and medium enterprises (SMEs), too, could reap major business benefits, so why aren't more of them exploring overseas opportunities? What's holding them back?
It's certainly not a lack of vision, quality products, or appetite for exporting, says Mark Dodd, rather it is small business perceptions of exporting as a complex, risky, and difficult thing to do against a backdrop of economic uncertainty.
"They know that selling overseas is good for business as a whole, but there is a tendency to focus on the macro picture of exporting; a huge global marketplace with many challenges and barriers, and that makes it difficult for individual companies to see how the very real opportunities could relate to their own business."
Research has shown that exporters have better long term prospects. On a global stage they have to innovate new products and services to compete and be agile enough to target different markets, leading to better productivity, growth, and profitability, and a positive impact on the UK economy and its balance of payments.
But with more than 30 years in international trade within the banking sector under his belt, in the UK and overseas, Dodd understands how globalisation and the rapid emergence of new markets have made the prospect of exporting appear more challenging for small businesses.
And his guidance is pragmatic; they must take a back to basics approach and apply the same first principles to their export strategy that they apply in every other aspect of their business operations.
And instead of focusing on specific geographical marketplaces, the focus, he says, should be on the businesses themselves.
Deciding which overseas market to target will be a key preliminary consideration; do you subscribe to the perceived wisdom of 'playing safe' and starting with close neighbours or English speaking markets, such as the US, or exploring less familiar but potentially more lucrative foreign territories?
The answer, explains Dodd, is nowhere near as black and white as the question.
He says: "The reality is that the economic centre of gravity is shifting; what is considered a key market now will be superseded by another in a very short space of time. Look at Turkey, for example, a country now being predicted to become one of the top 10 or 15 global economies in the next 15 years or so."
But if the bad news is that export markets can be as tricky to read as a seasoned poker player, the good news is that UK exporters of British made goods hold the trump card.
Dodd says: "One thing we do know is that British brands are held in high regard, in Turkey, in the Far East, in fact in many parts of the world. For some exporters the Made in Britain tag is their USP, and that gives UK firms looking to export a competitive advantage."
Having identified an export market, the next step is to tap into the available resources, including UKTI, to help them research it thoroughly, identify potential business partners or distributors, and then go out on a trade mission to see it in person.
"You have to see the place and meet the people you are planning to do business with, and more than once, because ultimately good business is all about good relationships," says Dodd.
It will involve costs, and the way these are managed as part of the investment is crucial, because alongside market research and due diligence, to a successful export strategy.
"Early discussions around investment costs and funding options are essential," he says. "Whether you are raising funds through equity finance, debt finance, business angel investors, or any of the other available funding sources, finance underpins your export strategy and runs in parallel with every other aspect of it."
"These perceptions and concerns are exacerbated by the demands of balancing longer term strategy with the day to day running of the business," says Dodd. "But here first business principles still apply. Yes, payment risk can be a problem if you get it wrong, but there are a great many businesses of all sizes and sectors that are successfully getting paid for exports without encountering problems."
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