Ahead of Going Global next month (November 17-18), I’ve been speaking with some of the presenters about the top topics being covered at this year’s show.
We’re going to be there with our Export Action Plan finalists, and in the second piece building up to Going Global, I ask TradeSift what they’ll be presenting on at the show.
You’re speaking at Going Global in November. What are you talking about and why should attendees take the time to visit your talk?
There has been a lot of talk in the press about the different Brexit options – but there is much confusion. The talk will explain clearly what the key options really are and how realistic they are. This is important in order to understand what are the challenges for exporters in a Brexit world. More specifically what are the risks and what are the opportunities
Everyone’s talking about Brexit but the issues most businesses are facing is not really knowing what Brexit is at the moment. What impact are we able predict in the future and how is it affecting business right now?
Brexit is not just about the UK’s relations with the EU, but also with all other countries in the world. Specific predictions are highly speculative because it is still unclear what choices the government wants to make, and what it will be able to negotiate.
In this context it is important is to identify the risks and opportunities both in the run-up to Brexit and longer term. For the immediate future, uncertainty and macro-economic factors such as changes in the exchange rate are affecting businesses. In the longer run tariffs, regulatory differences arising from the UK’s new trade policy will also play an important role
The talk will discuss each of these issues.
Which markets do you think UK exporters should be looking to when Brexit does actually happen?
That is a difficult question. In the first instance that depends on the product or industry in question. In the second instance it depends on what form Brexit will take – and this is unknown.
This is why exporters need to be thinking about how much of their existing trade may be vulnerable to Brexit choices; and also where there could be export opportunities.
This requires analysis of UK competitiveness, of where there is demand, who are the key competitors both at the level of the firm but also the industry and allied industries.
What tips would you give for uncertain exporters over the next few months and years?
Make sure you understand clearly the different Brexit options
Identify the risks / vulnerabilities to your business from these options:
The short run possible impact on investment and on your relationship both upstream and downstream in your supply chains
In the longer run how changes in tariffs, regulations may impact on your access to markets; and on how paperwork / bureaucratic procedures may impact on your costs
Talk to the government – either directly or indirectly (eg. through trade associations) and let the issues you will face and of your concerns
Consider in what markets there may be new export opportunities.
You can sign up to Going Global here and you can find out more about TradeSift on their website.