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We are told that the way to salvation for the UK\u2019s stagnating economy is for all businesses to export. Additionally it\u2019s not just to our fellow members of the EU but also to the emerging markets around the world.<\/p>\n
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One could say that these markets have already \u201cemerged\u201d and have substantial economies of their own. In fact many UK businesses lag far behind our competitors in Germany, France, Italy and the USA in creating a presence in these countries. The irony is that some of them are the very Commonwealth countries we turned away from back in the seventies.<\/p>\n
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The key aspect is that these economies are still growing at some rate and undoubtedly have an appetite for the goods and services that we can provide. An interesting statistic is that China will soon overtake USA as the biggest market for Rolls Royce Motor Cars.<\/p>\n
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Notwithstanding the challenges facing the service sector, If we focus on manufacturing and engineering businesses, which most would agree have considerable potential to export, how do we encourage companies that see themselves as integral to UK based supply chains to export to new markets?<\/p>\n
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Since 2008 many businesses have recognised the burning platform of a UK and EU based sales pipeline and, aided by some preferential exchange rates have begun or expanded their exporting efforts. Also firms have been working with partner companies abroad to offshore production or add extra capabilities to their business.<\/p>\n
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I\u2019m currently working on my next DMH Stallard thought leadership project to explore how companies have made a success of exporting in new markets and developing new capabilities and what they have learned both positively and negatively from the experience.<\/p>\n
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The report will be published in the Spring and will, as always, disseminate best practice to help businesses benchmark themselves with their peers.<\/p>\n
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We are told that the way to salvation for the UK\u2019s stagnating economy is for all businesses to export. Additionally it\u2019s not just to our fellow members of the EU but also to the emerging markets around the … Continue reading