Opportunity Knocking for UK Small Businesses
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The time is now for British Business to be bold and consider exporting. HSBC’s Head of Business and Corporate Banking, Global Trade and Receivables Finance UK, Lee Baty, describes a market full of opportunity for small businesses.
Expanding your horizons beyond the domestic market gives you access to new consumers, can enhance your company’s profile and exposes you to new ideas that could help drive growth and innovation.
The UK is full of outstanding entrepreneurs, but among potential exporters there is sometimes a fear of the unknown and a lack of awareness of the opportunities that exist around the world.
Exporting is a big step for a business of any size but my message is: be brave and seize your opportunities. There is tremendous potential for growth beyond our borders and numerous examples of where UK companies have found success in international markets.
It is, however, vital to do your research, on the internet, through government and the many other export promotion bodies. It is about identifying the right market where your goods or services are required, and targeting it.
If you can, visit your target markets. Make connections, speak to potential customers and understand the way the market works. Speak to those who have been successful there; seasoned exporters are often willing to share their experience both good and bad. In 2016 HSBC supported the Enterprise Nation Go Global campaign which saw small businesses visit cities such as Berlin, Amsterdam and New York to make new connections and open up their products to a whole new world of consumers. This year, HSBC are again supporting Go Global, which features a Trade Mission to Singapore in September 2017.
A strong reputation
It is clear that British companies have an excellent reputation for quality and innovation and we are world leaders in many sectors such as manufacturing and technology.
We should think of Great Britain not just as the home of many iconic brands but also as an iconic brand itself. We should be celebrating ‘Brand GB’ and building upon the current upbeat mood amongst business communities to drive our export success.
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