The export advantage – how international trade makes your company stronger

Economic research consistently shows companies who export to any country, in any financial climate, perform better than those who don’t. Companies that export:

  • Improve their productivity
  • Achieve levels of growth not possible domestically
  • Increase the resilience of their revenues and profits
  • Achieve economies of scale not possible domestically
  • Increase the commercial lifespan of their products and services
  • Increase the returns on their investment in R&D
  • Improve their financial performance
  • Feel the benefit

Academic research confirms that exporting companies are more productive than non exporters, achieve stronger financial performance, and are more likely to stay in business.

Heather Booth di Giovanni, Director of Economics and Evaluation at UK Trade & Investment (UKTI), is also clear on the benefits: “The evidence about the business benefits which can be achieved through exporting is clear and compelling. In the context of a depressed British market, the benefits of sustained revenues from a well diversified portfolio of overseas customers are even more vital. We should not forget that there are opportunities overseas which are still growing, and that new opportunities are constantly opening up. With the benefit of UKTI’s expert help, negotiating the challenges of unfamiliar markets overseas can be much more rewarding and less daunting than many companies might anticipate.”

New ideas

In recent UKTI surveys exporters have consistently highlighted the benefits of gaining increased exposure to new ideas as a result of doing business overseas. This gives them the opportunity to develop new and improved products and services, which can help them to gain and retain competitive advantage at home as well as overseas.

Robotics engineering firm Shadow Robot based in Islington, is an example of a company which has prospered due to its progressive, knowledge-based export strategy. Technical director Rich Walker explains: “It was clear from very early on that potential customers with money were in Europe, Japan, and the USA. We now see most of our business come from a range of overseas customers, and we continue to reach out abroad to international trade events where we can expect to find new areas to exploit our key technologies. This contact also gives us insight into other customer needs that our R&D group can help us work towards.”

The Export Advantage © Crown Copyright 2012. Source: www.ukti.gov.uk

Enterprise Nation © Redbrick Enterprises Ltd. Source: www.enterprisenation.com

This article was first published by UK Trade and Investment. Read more about how UKTI can help your business export successfully

Barclays can help you export successfully

Barclays Business Abroad  is a package of discounts and banking tools that can give you a great start in the world of international trade. The package includes all the following:

  • Introduction to international trading workshop – a workshop that’ll equip you with the knowledge and capabilities you need to better deal with the pressures of international trade
  • Free currency accounts
  • 25% discount on all outgoing and incoming international payments
  • 25% discount on export document preparation
  • 40% discount on credit reports (which help you control your business’ exposure to international risk by giving you accurate information on new overseas customers and suppliers)
  • Free exchange rate iAlerts – keeping you up to date with any rate fluctuations that could affect your trading
 Take the next step

Topics: Business Development, Getting Started, Insights & Statistics, Market Research, Operations, Product Development, and R&D
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