Team Talk John Doolan International Trade Advisor UKTI Who are we ? UK Trade & Investment is the Government organisation that helps UK based companies succeed in international markets and assist overseas companies to bring high quality investment to the UK’s vibrant economy UK Trade & Investment is the lead Government organisation that supports companies in the UK doing business internationally and overseas enterprises seeking to locate in the UK Why Export ? Financial – Sell more – increase turnover – improve profits – Increase volumes – maximise capacity – reduce unit cost – Command higher margins in some markets Strategic – Reduce dependence on domestic market – spread risk – Compete in a global marker – Extend product life cycles Operational – Exposure to new management practices, new products and marketing ideas – Exporters are shown to be more adaptable to new technology and best practice – Increased skilled workforce Additional Benefit – Higher company profile – PR opportunities – Improve domestic competitiveness GETTING IT RIGHT 10 Key Steps to Successful Exporting 1.Research Your Market Does your prospective foreign customer need what you are selling at the price that will yield you a profit ? What is the competition and how will they react 2.Implement an Export Strategy and Review your Capabilities Ask yourself what would my business gain from exporting 3.Construct an Export Plan Define how you will enter the foreign market. Finalise human resources and marketing strategy and allocate an adequate budget to cover export start up costs 4.Choose Your Sales Presence Establish whether you need a direct sales operation. Or is an agent or distributor more effective ? How will you manage your overseas sales presence ? 5.Promote Your Product How are you going to market and sell your product ? Customise marketing to the target country 6.Get the Customs Side Right Contact HM Revenue & Customs, make sure your reporting practices are watertight 7.Get Paid on Time Ensure your cash flow will remain at a safe level. Guarantee sufficient credit for your future sales. Take out insurance cover if necessary 8.Choose your Distribution Methods Consider the implications of selling over long distances and across national frontiers 9.Transport Goods Effectively Assess and choose the most effective transport method and make sure the goods are insured by you or the importer 10.After Sales Policy Regularly liaise with customers, export agents and banks. Monitor political unrest or other adverse conditions in the country of destination The benefits are obvious so ... How can UKTI assist you ? Areas of Assistance Advice & Support Information & Opportunities Making it Happen International Trade Advisers • Provide free of charge, impartial advice to New and Experienced Exporters • Help you to access the UKTI’ global network of expertise • Provide Market and Sector Knowledge • ITA’s are your link to other UKTI services and funded programmes Overseas Market Introduction Service - OMIS • Unique subsidised service to help you enter a new market • Puts you directly in contact with the UKTI overseas network • Provides you with Tailored Research and In-Market Support • Helps you prepare for a successful market visit SAVES you Time & Money ! Overseas Market Introduction Service - OMIS • Market analysis • Feasibility study of your product or service • Market sector overview • Evaluation of market entry strategies • Validated list of contacts • Warmed list of contacts • Local introductions, with e.g. Businesses, trade associations, chambers of commerce, government bodies • Programme arranging support • List of trade fairs, trade publications • Promotion of your business overseas – assistance with press releases • Programme arranging support • Interpreting • Extensive advice & in market support from commercial officer • Product launch -network reception at a British Embassy or Consulate Passport Scheme Under the Passport scheme you get: · An Export Strategy Plan as part of the application process and rolling forward action plan · Attendance to a 1 day Passport Workshop to raise awareness of international trade · Market research from our UKTI colleagues ie included at no extra cost an equivalent amount of OMIS assistance · Package cost upfront £1100 but get equivalent OMIS assistance and up to £1000 of additional funding The Passport funding is to assist you with your export strategy plans and contributes 50% towards certain activities which includes eg overseas travel & accommodation, translation marketing material & training Export Marketing Research Scheme Financial support and advice on export marketing research • In house projects – 50% funding per project agreed • Consultancy projects – 50% funding per project agreed • Pre- published research – 33% funding as agreed Market Visit Support Overseas Business Development Market Visit support as part of an organised delegation • Multi-sector focused • Sector focused • Assistance provided before, during and after trip • 3 funded visits per eligible company Funding varies depending on market (country) visited Exhibition Support Support programme to exhibit at trade fairs overseas. • Two funding levels: £1000 to £1800 – part of a group organised exhibition £1000 - for independent or ‘solo’ exhibitions • 8 week application notice • Min. exhibition space of 4 sq meters & £1K direct costs Export Communication Review Scheme • Independent consultant evaluates the way you present your company’s products and services to overseas customers. • Practical recommendations to make your website, promotional materials, presentations, trade shows, agents/distributors, phone and email communications more effective. • Full report highlighting your strengths and weaknesses and outlining a ... Strategy for your international communications Your International Trade Adviser Passport Scheme Overseas Market Introduction Service Export Marketing Research Scheme Market Visit Support Exhibition Support Export Communication Review North East Regional Support Programmes And don’t forget the UKTI website: www.uktradeinvest.gov.uk What Next ? Call International Trade Hotline 0845 0505054 Speak to an International Trade Adviser John Doolan International Trade Adviser Email: John.Doolan@ukti.rito.co.uk Any Questions ?
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