Exporting - how do firms begin?
Despite the challenges and risks associated with exporting, there are numerous benefits not likely to be achieved by remaining solely in the domestic market Ian Tandy Managing Director of Global Trade and Receivables Finance of HSBC UK Exporting is big business for the UK. Total exports reached £637bn at the end of last year, with the number of SMEs trading overseas increasing by 6.6pc and the number of large companies increasing by 6.1pc. But how can you take your business global? Research, for example, is crucial – into suppliers, your target market, local tax and duties, and practical considerations such as local infrastructure. Here are seven of the most common questions UK businesses have about getting started in exporting. What types of business could consider exporting? Any size or type of business has the potential to export. With the growth of e-commerce, the youngest business can start trading with the world almost immediately. International expansio...