Export Expert in Half a Day?
There were 5.5 million small businesses at the start of 2021, this is a decrease of 6.5% from 2020. To grow we know these business need to look at international markets so here are just some of the Major Issues that UK Businesses Need to Overcome if they are to Export and Grow:
What do SMEs do with Trade deals
Signing all these trade deals is one thing, but what we do with them is another thing altogether. To use them need a coordinated approach from the support agencies and independent advisers. Most importantly, it’s time for our businesses to drop the silo approach to running their operations. Finance is a vital element but so now is compliance, and without effective marketing you won’t have any sales at all. Bringing these functions together is how ExportBootCamps.com will help you to operate effectively. Think holistically.
If the UK is to trade its way out of the looming recessions, we need to look at these major issues, and build an integrated approach that leaves businesses ready for the next steps both internationally and digitally.
Supply Chain issues
Supply chain disruption is here to stay, it’s not just the pandemic, it ports and logistics, and worse still the political issues that UK businesses face. The surprise closure of ports and factories in China has sent shock waves through the world of manufacturing and sales alike. Forcing some governments to look at self sufficiency and protectionism. Protectionism will stunt the growth the world has seen that brought 60% of the world poorest countries out of poverty. This cannot happen. Trade can only work if we work to eliminate the politicising of world trade and weaponizing of trade. This is something that traders and manufacturers’ need to plan for, but how? Building resilience into our supply chains demands a serious commitment from the business, and possibly, leaving behind the ‘Just in Time’ practices that the Japanese shared with us in the 1970s. This is making warehousing and warehouse management a key factor in modern supply chains, and an additional cost to the bottom line.
Working with us at Exportbootcamps.com will help you to understand the links between, having a stab at a new market, and using real market intelligence to build long term success. This will prepare your business against future shocks.
Sustainability is not going anywhere
We all agree that using the worlds resources responsibly is a good thing but how to we begin to achieve this? Questions still arise around how this will be measured and how it can be achieved, especially as we know there is a ‘time bomb’ ticking on climate change. International operations must do more than simply ‘greenwash’ or pay lip service to the issue. There will be an increasing number of regulations to support this activity and businesses will be expected to take a proactive role in sustainability, especially as it begins to drive purchase decisions. The world is looking to trade to lead the way on environmental affairs. Exportbootcamps.com will show you how to stay aware of UN, OECD and World Trade Organisation initiatives and integrate these into your business.
Digitalisation and what it means to an SME
Lots of exciting new opportunities, if you have the connectivity to sell to customers across the globe, for goods and services alike. However, the debate still rages around the levelling up programmes needed to support this trade without leaving behind some of the least developed countries. Trade in goods is often tied to paperwork, not electronic transfers. The UK is leading the way with Singapore in digitalisation of trade however, the UK is going one step further but introducing legal reforms to support paperless trade. By changing the legislation linking the most important shipping documents ie Bills of Lading and Bills of exchange to become digital. As around 30% of the world use English law this will make a huge impact on the manner and speed at which goods can be transacted thus taking away some of the dangers of fraud that have traditionally haunted this sector.
The UK government has a new Border Operating Model which will include a single window which will unite all the government agencies that need data to clear goods making working to produce paperwork a single task rather than interaction with many agencies. A new Cross Border Data Flows Strategy have also been developed which prioritises data adequacy agreements with South Korea, Australia and the US. Staying aware of new data localisation measures in new and emerging markets may become part of the SME strategy for their growth plan.
Becoming an export expert in half a day?
Having read this you may now realise that becoming an export expert in half a day may be a marketing gimmick but spend 2 days with the experts at ExportBootCamps.com and the London Chamber and you’ll leave with a clear strategy and plan for achieving growth internationally.