WEBINAR: Alternative markets: A world of opportunity beyond the EU
Leaving the EU, has removed a ‘comfort blanket’ from UK traders; even those companies who have built strong revenues trading exclusively within the Single Market, are now fully fledged importers and exporters. Whilst the UK has embarked on a period of adjustment and the ‘skilling up’ requirement in the area of international trade cannot be underestimated; as the dust starts to settle, UK companies need to take stock, re-focus, and ask themselves “where is the future demand for my products and services?”
The reality is that there is significant call for UK products and services beyond the EU, particularly in emerging markets. Looking at Germany, for inspiration, the country runs a trade account surplus of some 7.5% of GDP (UK runs a deficit of 5.2% of GDP); the country’s SMEs are regarded as “hidden champions” as they’ve carved out niche markets all over the globe. These companies’ products and services are rarely the cheapest, but they differentiate through “quality”; and “quality” is exactly how the UK needs to differentiate its offerings. Research commissioned by Barclays Corporate Banking discovered that the label “Made in Britain” is perceived as “high quality” and commands up to a 7% price premium in emerging and developing markets.
So, whilst the cultural differences, language barriers, and regulatory requirements involved in entering these territories cannot be underestimated, the payoff from a well-designed export strategy and successful launch in these territories can be highly lucrative.
Please note, this workshop will be held on Zoom. The online workshop format gives you the chance to fully participate in group discussion via video, ask questions throughout the session, learn from like minded business owners, and build connections. Our online workshops work in the same way as our standard events, with a limited number of attendees, and an expert Delivery Partner leading the session, to ensure you’re able to receive personalised support.
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Who should attend
Business owners affected by EU Exit.
About the speaker