Positivity is a must with export trade

ALTHOUGH a number of recent headlines have a negative focus on Britain’s role in the European Union, from a business perspective it is essential we retain an optimistic outlook towards export trade – to Europe and beyond.

As a board member of the Coast to Capital Local Enterprise Partnership I have a strong desire to see the economy of our region thrive and prosper. For this to happen, we must increase our export trade.

This week we at Coast to Capital hope local businesses will focus on export opportunities and reap the benefits of international trade in markets which are already worth over £14 billion to our regional economy.

Already, one in six businesses in our region – more than 11,000 companies – are exporters, with the European Union and North America being the biggest markets. Of those businesses, nearly half expect to increase their overseas sales over the next 12 months.

With a high proportion of smaller businesses in our area, we are targeting our support to those planning to grow internationally.

As an incentive to local businesses investing in trade expansion, Coast to Capital is offering business growth grants of up to £250,000.

One example is Lancing-based industrial adhesive manufacturer Parafix a major exporter, which was given a grant of almost £100,000, which was invested in new machinery, 10 new jobs and a foothold in the overseas market.

Taking the plunge is often the biggest step – once you’re in the export market, it becomes self-perpetuating, with many businesses experiencing increased confidence, greater economic stability and enhanced reputations. The benefits are clear from UKTI statistics that 60% of productivity growth is through international trade.

With Europe just across the channel, and Gatwick close by, our region has natural advantages over others.

Companies that look to export markets as a priority tend to invest significant time in research, and if they decide against immediate expansion, the knowledge acquired is still helpful for later application. In the world of international trade, knowledge is power, and ignorance is weakness.

At Coast to Capital, we hope Export Week will inspire many local businesses to commit to seriously investigating overseas trade opportunities.

To find out more contact UKTI South East on 08452 717400 or email info@uktisoutheast.com.

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