Birmingham’s in the shop window – so go out and sell!

15 Aug 2022

Published in: Member News

---

Number of factors holding back UK companies from exporting

---

Birmingham’s in the shop window – so go out and sell!

As the eyes of the world watched Ozzy Osbourne bring the curtain down on the 2022 Commonwealth Games - the door is still very much open for your business, so get your sales pitch out to the world now. That’s the message from Johnathan Dudley,

Head of Manufacturing at national audit, tax, advisory and risk firm Crowe.

“Not only is the Midlands enjoying the benefits of global promotion through sport, we are also seeing restrictions on supply from certain countries, and the two elements are coming together to benefit exporting,” he pointed out.

“The combination of recent stuttering consumer demand, after the initial surge following lockdown, and the need to continue driving sales in a domestic market should really make businesses consider the benefits of exporting.

“As each month goes by, there seems to be another trade deal secured as the government exploits the negotiation freedoms of the post Brexit era to seek new global trading partners.”

Crowe has just launched a Funding for Export flowchart to help businesses understand the support they’re entitled to.

He said the main issue restricting export growth is that too few UK manufacturers look further than their own domestic markets to seek new customers and, at a time when the “Made in the UK” brand commands real value across the world, opportunities are being missed.

Dudley cited a number of factors that were holding back UK companies from exporting:

• lack of knowledge and understanding of Incoterms and what’s involved;

• language barriers;

• lack of knowledge of legal systems or demand for products in foreign countries;

• lack of finance or export credit security; and

• exchange risks.

He said companies could make use of their local Chambers of Commerce as a “Citizens’ Advice Bureau” for business.

“Your local Chamber of Commerce, if you are a member, is a useful source of (initially) free advice as to how to go about making a start.

“They are a good conduit into UK Export Finance, an arm of BEIS, who in turn can provide free training, some support for getting started financially and even some export credit guarantees if you actually land an export order.

“Likewise, the Chamber of Commerce, for a fee, can handle all of the relevant export documentation you need as well as providing a research service using British embassies and consulates across the globe.

“They also know when trade missions are coming up and how you can get involved. These are great ways to explore opportunities in countries and get in front of potential customers, agents and intermediaries.”

And he pointed out that the Crowe Global Network can make introductions to Crowe colleagues across the world who can connect businesses with local commercial contacts, government agencies and also potential customers too, as well as providing a wealth of help and assistance.

“We can help with all of these and other introductions, as well as ideas for currency hedging and dealing and the practical aspects of exporting. So, start the conversation and make 2022 the year that you 'go global'.”

For a copy of Crowe’s Funding for Export flowchart, and further information on how Crowe can help companies start or grow their exports, contact julie.mole@crowe.co.uk or call 0121 543 1900.

Ends