THOUGHT

30 EXPORT
EXPORT
31
Steps to take when planning to
trade on the international stage
Nicole
GUNTER
Exporting to new
markets is something
which many
companies are now keen
to explore, especially with
the uncertainty over what
our international trading
relationships will look like in
a post-Brexit era.
What do they need to consider?
Proper planning and research can make
the difference between success and failure
for businesses considering importing and
exporting either for the first time or to new
markets.
Launching an overseas trade
programme can be a daunting prospect
– and if it goes wrong, it can also be
extremely expensive.
£35,000 investment adds Ireland
to distribution company’s contracts
Ningbo Palletised Distribution, which
has a contract to deliver hazardous
materials in the SY and TF postcode
areas, has launched a new venture in
Ireland.
The company has invested £35,000 in
creating Ireland Express, in response to an
increase in exports to Ireland since Brexit.
Ningbo’s managing director Chris
Stockton said: “Businesses in Shropshire
seeking to ship products across the Irish
Sea have to use a multitude of partners.
“This often comes with numerous bits
of paperwork and documents, increasing
time spent.
“By launching a dedicated nightly
service to Ireland using our existing
structure and adding to our fleet, we are
able to save companies time and money,
as well as offering a stronger option.”
He added: “Ireland is the UK’s fifth
biggest trade partner, and the Irish
economy continues to grow and improve
at a fantastic pace. We’ve noticed an
increase in goods being exported to Ireland
and Northern Ireland and predict this rise
to carry on.”
From not researching the potential
overseas market properly to failing to have
sufficient insurances in place, businesses
can easily find that the value of any
potential hike in sales has been wiped out
simply because the paper work wasn’t
correct or shipments were held up at
customs.
There are important steps to take when
planning to trade internationally for the
first time, here’s a few which shouldn’t be
missed out.
Do your research – The internet can
provide a wealth of how-to information for
first-time importers and exporters, but it’s
also important to research your market and
where there is a need for your product or
service.
Get advice – It is always worth seeking
an expert view on the logistics of moving
goods overseas. We’re often surprised at
how many companies are paying too much
for their shipping simply because they’ve
made assumptions on the size, weight and
packaging of a consignment. And it’s worth
speaking to other exporters, to find out what
works for them.
Define your market – Find out how
your product and service might need to be
adapted for export and what regulations
must be complied with. This will be
a moving landscape in coming years
following Brexit. Think about opportunities
in fast growth markets: it is predicted that
emerging markets will be importing more
than they are exporting by 2026.
Consider the risks – Risks are higher
in foreign markets than at home. Monitor
your progress against your plan and reassess
the risks at regular intervals. That
includes mitigating your supply chain risk
by forging close relationships with your
suppliers and buyers.
Keep an eye on costs – Businesses
thinking about international trade for the
first time or targeting a new overseas
market should make sure they have the
right resources and commitment to put
towards it. A good understanding of how
fluctuations in exchange rate will affect
profitability and pricing is vital.
Check the legalities – Understand the
rules of engagement, particularly issues
such as duties and paperwork. Finding out
at the outset what is required might save a
few headaches later.
Look to the long-term – While every
profitable sale is welcome, it is always
worth looking at long term market potential,
to assess whether initial investment might
bear fruit later.
Look beyond your borders and consider
the opportunities in rapidly growing
markets.
• Nicole Gunter is managing director
of Telford company Global Freight.
Ningbo’s managing director Chris Stockton with an Ireland Express branded wagon
Become part of a searchable directory of UK exporters
Shropshire businesses wanting to
break into overseas markets, and take
advantage of the global appetite for UK
goods and services, are being urged to visit
the new online trade hub, GREAT.gov.uk.
It is a single digital destination for trade
and investment, bringing together and
connecting UK businesses, international
Focused on driving
an overseas market
A
north Shropshire
company is planning
a major expansion of
its overseas sales, thanks to
the support it has received
from the Department for
International Trade.
Haydox @ The Wood Yard, which
manufactures and distributes access
equipment for the offshore oil and gas
sector, became part of The Wood Yard, in
Whitchurch, Shropshire, in the summer of
2015.
It only began to export in earnest earlier
in 2016 but after achieving 75% of sales
to six countries in just over 12 months, it
is putting in place an ambitious overseas
growth programme for 2017.
Christine Hamilton, interim regional
director for DIT West Midlands, praised the
company for focusing on driving its overseas
trade.
She said: “It has tapped into an indemand
sector and is providing vital access
equipment to a range of offshore companies
and I’m delighted that the work The Wood
Yard is doing with our Shropshire team is
yielding positive results.
“Its success demonstrates the value of
working with our ITAs. With our support and
guidance, companies can access whole new
markets, which help them to strengthen their
business, lead to expansion and the creation
of jobs in the local economy.”
Haydox @ The Wood Yard, which
supplies timber pole ladders and aluminium
stagings for the oil and gas sector, has been
working with an International Trade Adviser
at DIT in Shropshire since the summer of
2015.
Andrew Haydock, managing director
of the Wood Yard has participated in a
number of DIT export programmes, including
strategic export workshops, and has been
supported by digital trade advisers on web
and social media platforms, improving search
engine optimisation and designing a website
for international markets.
He has also received advice from
Coventry University-based IntaTrade, on
matters such as routes to market, intellectual
property and copyright and branding in
overseas markets.
buyers and international investors. Whether
businesses are new, occasional or
frequent exporters, they will be able to take
advantage of the new suite of tools and
exclusive deals on fees or commissions
with some of world’s leading online
marketplaces. By registering with the find
a buyer service, businesses will become
part of a brand new searchable directory
of UK exporters which government will use
to match their products and services with
worldwide demand.
A new tool on GREAT.gov.uk will help
businesses access the best e-commerce
opportunities via preferential deals with the
world’s largest online marketplaces.
Andrew Haydock, managing director of the Wood Yard, has participated in a
number of DIT export programmes, including strategic export workshops
He said the support he has received
over the past few months has enabled
him to become more focused on putting
together a detailed strategic export plan. It
will also mean he will be able to reduce his
reliance on outsourcing manufacturing and
bring more work in-house.
Haydox @ The Wood Yard already
exports to United Arab Emirates, Qatar,
Thailand, Malaysia, South Africa and
Singapore.
Increasing demand for its products
means it now has its sights firmly on new
markets in the Arab Gulf, South East Asia
and the Far East.
Mr Haydock said: “The support we’ve
had from the DIT really has helped us to
push us further in our ambitions.
“While we knew what we wanted to do,
getting the support and mentoring from our
ITA has enabled us to look at how we can
explore new opportunities.
“We’re very excited about our plans for
2017 and we’ll continue to work with our
international trade adviser as we grow our
markets.”