Exporting

Exporting is a popular growth strategy for many businesses, whether entering their first overseas market or expanding to further international territories. Exporting can offer many opportunities to Cheshire and Warrington businesses looking to grow, looking to innovate, and looking to partner with other businesses. In 2020, UK businesses exported a total of £601.0 billion goods and services.

A successful exporting strategy can help your business:

Increase turnover and profit, including through accessing bigger economies of scale
Innovate and develop new products to meet the demands of varying markets
Reduce the risk of being dependent on one market
Access a new supply chain
Reduce seasonality

Whatever stage your business is at in its exporting journey there is a range of support available to help Cheshire and Warrington businesses export, including:

Help with researching new markets
Help with developing an export strategy
Help with understanding export opportunities
Export finance
Help with export documentation

Deciding on exporting as a growth strategy can be a decision that a lot of small and medium business owners view as a complex and sometimes risky strategy, however with the support of the Growth Hub and other export support partners you can access advice and guidance to make your exporting journey as easy as it can be. There are a range of decisions to make when starting to export. There is fully funded support to help you develop the best exporting strategy for your business and each exporting strategy will often be as unique as each business. There are areas of your business you will need to consider before choosing the most effective exporting strategy for your business:

Resources and expertise within your team
Financial resources and commitment needed
The suitability or changes needed for your products/services
Meeting demand alongside your domestic business
Ability to use the same supply chain or need to develop your supply chain

Once you have decided exporting is a suitable growth strategy for your business then choosing which market you will sell in is a very important decision and you will need to consider various factors including:

Size of the market opportunity
What customs/taxes you may have to pay
Measuring any risks associated with that specific country/area
Any potential adaptations/changes your product/service may need
Ease of doing business in that country
Understanding the competitors in that country
Any cultural and legal differences in that market you will need to comply with

After deciding which market you would like to enter, you will then need to make decisions about how you will sell in that country, whether you will sell via your website, sell through an agent or distributor, licence your products or set up a physical presence in that country. When making this decision you will need to consider factors including:

How you will find a suitable agent or distributor
What percentage of sales will they be eligible for
How much autonomy and responsibility will you give to your agents/distributors
How you plan on developing market share and over what period of time
What pricing strategy will be most effective in that market
How will you develop relationships in that market
How you sell goods/services may impact your accounting responsibilities in that country

After deciding which market you would like to enter and how you plan to enter the market, you will face the usual business planning decisions, with potential for an added complexity including:

Payment terms
Marketing- translation and cultural sensitivities
Protecting intellectual property

In Cheshire and Warrington there is a wide range of support programmes and organisations that can help you: undertake the research needed to make the best decisions, access the finance you may need to maximise the opportunity, develop relevant contacts in your chosen territory and develop your exporting strategy.

Exporting Blogs and Case Studies

Some of the support programmes available to help your business export are listed below:

UK Tradeshow Programme

Help for UK SMEs to successfully attend or exhibit at selected overseas trade shows.

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Department for International Trade

The Department for International Trade provide the in-depth local and sector insight you need to unlock growth in opportunities in markets worldwide and overcome any barriers you may face to international trade.

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Export Academy

Giving small and micro-businesses the know-how to sell to customers around the world with confidence.

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Internationalisation Fund

SME’s can apply for match-funded grants of between £1,000 and £9,000, which will be available for proposed future exporting-related activities.

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Chambers of Commerce

Chambers of commerce offer businesses a network and business community. Chambers of commerce have a wide range of members who offer a variety of services and can help businesses to connect, network, share their views and learn certain business skills

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