UKTI (UK Trade & Investment) recently launched a new initiative to help UK businesses start doing business on an international scale.
Export Week (November 9th – 13th) consisted of 70 events with advisors from over 60 countries and revealed how the new UKTI program will help UK companies – if you didn’t attend, here’s what you need to know.
People are interested; UKTI is growing
At first glance, UKTI’s export assistance program seems to be a smash hit. They have secured an additional £4 million to triple the number of qualified advisors spread all over the UK.
It’s been successful for several key reasons.
- It’s free and easy. You contact the UKTI office, set an appointment, walk in the door, and a specialised advisor gives you 1-on-1 help. Simple as that.
- It’s accessible. Anyone (regardless of size or business type) can meet with an advisor to discuss options. You just need to have something to export.
- It has real potential. Exporting and expanding into international markets is one of the best ways to grow in a serious way.
All types of businesses are exporting
The domestic market is less complicated, and it’s where most businesses find their feet. But the international market is huge, and if you can get a foothold, you can grow your business at a much more rapid pace.
This is the point that UKTI is trying to drive home with Export Week. They went over some full-year 2014 statistics – some stranger than others.
- The UK dairy industry works with a total of over 135 different countries
- The UK beer industry exported £15 million to China alone
- 1 billion tonnes of machinery were exported (engines, generators, boilers, etc.)
People are eating UK ice cream cones, drinking UK IPAs, and relying on UK engines and components all around the globe.
The international market is exponentially larger than the domestic UK one, and every business has an opportunity to grab a slice of the cake.
Unlikely markets aren’t out of the question
Advisors from over 60 countries attended Export Week and met with all types of UK businesses.
There are a few countries off the table – North Korea, to name one – but aside from that, with UKTI’s knowledge, connections, and assistance, you have the opportunity to branch out to almost any country. Don’t just look at the more obvious ones you (and your competitors) already know there’s a market within!
Taking a chance can mean a bigger opportunity. Forget your comfort zone!
Remember, when you begin or expand your exportation efforts, you have the opportunity to make a brand new name for yourself. Perhaps your products aren’t the best quality available in the UK. When you go abroad and really branch out further afield, you may find that the competitive landscape is different, the consumer mind-set has changed and you fulfil their quality needs perfectly.
About UKTI investments & how to get started
The process to get started is fairly basic.
- Set an appointment
- Meet with a UKTI advisor
You can go into your meeting with goals in mind, or, you can let the advisor do their thing and act as your free “export consultant”.
Many times, businesses can go international simply by figuring out shipping logistics to a specific country and getting on the popular e-commerce platforms for that country. The UKTI knows of hundreds country-specific e-commerce channels and even has systems in place to add them to your existing infrastructure with minimal work. (The only thing you’ll have to do is translate your sales and product material and (here’s a non-subtle hint…) Bubbles Translation Services can help you with that.)
You’ll have to talk with your advisors to learn more about how your business specifically can benefit – but with over 12 years’ experience and 1,250+ clients, we can safely say that all types of businesses can sell more by exporting their products.
Get started with the new UKTI program by clicking the link above, and when you’re ready, contact Bubbles for help with all of your international translation needs.