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Do we need to reassess our Export Markets?

By Lauren

Exports have always been a large part of SME activity.

There has been much said about our special relationship with EU countries. However, uncertainty with the Euro means that many are becoming nervous about this business. Together with the potential for an ‘IN / OUT’ referendum on the EU, there could be turbulent times ahead.

Of course Euro giants like Thales, Siemens, Santander, and Mercedes will still want to trade ‘tariff free’ with the UK in the event that a vote made an EU exit inevitable. So, perhaps the relationship that Norway and Switzerland has with Europe would be the model. Who knows?

In reality UK business has been guilty of letting certain special relationships slip when it comes to Exports. Let us take Canada and Australia for example. Both countries share the same language (in the main). They also share the Monarchy, our Royal Family. In the past we did some great business, but we appear to have taken our eye off the ball, and Asian companies have benefitted.

Back in the 1980’s, for every £1 in value we exported to the USA, we exported approximately 25p to Australia and similar for Canada. Today, it is less than 5p in comparison with the USA. Whilst we have clearly nurtured USA relationships, we are guilty of paying scant attention to our closest allies.

Asia has undergone great changes. Manufacturing is not as attractive as it was. So, perhaps now is a good time for Exporters to reassess where they sell to.

If you would like an informal talk about your export markets, aspirations and frustrations, then why not contact us?

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