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UK Trade & Investment
North East Firms Take it to the World
North East firms are being urged to go global in a bid to strengthen their business and beat the recession. And UK Trade & Investment has given them a promise - if they have a product or service which is right for an overseas market, UK Trade & Investment will get you there.
As a region, the North East has enjoyed steady growth in its export performance. Latest figures showed a fall towards the end of 2008 and in the first half of 2009, but our annual total of goods exported around the globe still stands at more than £10 billion. But while many North East firms have already switched on to the benefits of international trade others have yet to realise what they are missing out on.
David Coppock, UK Trade & Investment's International Trade Director, said: "There's no doubt the economic downturn has had a significant impact on the North East economy but despite a fall in exports in recent months there has been growth in several key sectors and markets. Road vehicles and medicinal & pharmaceutical products remain our top export sectors with annual values of £2.44 billion and £2.41 billion respectively, while the USA remains our most valuable annual export market with £1.8 billion worth of goods exported there in the year up to the end of June 2009 with the Netherlands next in line at £1.5 billion."
"And the North East is the only English region with a positive balance of trade according to figures for the last 12 months. But although we do well in international trade, the actual number of North East companies that export is relatively small and most of our overseas earnings come from just a few industries such as automotive, chemical, biotechnology and pharmaceuticals. We want to encourage more companies to take up the export challenge, widen the range of goods and services that are exported and broaden the number of markets in which they are involved."
"North East companies have a lot to offer and we're here to help them every step of the way - whatever the size of the company, whether they are a novice or experienced exporter and whatever their product or service, we want to help them make the most of the opportunities available in overseas markets. We have a dedicated team of International Trade Advisers who will work with a company to develop and implement a realistic and achievable export plan. They can then help companies access the wide range of support services available through UK Trade & Investment."
"Each business and each market is unique and our aim is to provide companies with the right advice and support to help them succeed as they make their first tentative steps into a new market. Through OMIS - the Overseas Market Introduction Service - a company can be put directly in touch with our staff in more than 200 countries, each with the expert knowledge needed to help draw up a programme to ensure success.
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"Obviously it makes sense to find out as much as you can about a new market before embarking on any export plan, as mistakes could be costly and with the exchange rate at its current level, UK goods are even more attractive for overseas customers. With this in mind, we also organise a comprehensive programme of Market Visits giving companies the chance to explore a market as part of a UK Trade & Investment delegation and we can provide assistance for companies wishing to independently take part in trade shows and exhibitions. "
"More recently Gateway to Global Growth, a national initiative targeting companies with two to ten years experience in exporting, was launched and already more than 20 North East companies have benefited."
David added: "Research has shown that companies involved in overseas trade were on average larger, more productive, pay higher wages and use more capital-intensive production methods than non-exporting rivals. Through international trade companies can increase turnover and profitability, utilise spare capacity and spread business risk and UK Trade & Investment can be the key to unlocking new overseas markets for both experienced and novice exporters. While we recognise that demand has softened globally, there is no doubt that there will be a recovery at some point. It can take 12 months or more to effectively research and develop a new market so we urge companies to start this work now to be in a position to take advantage of the upturn. We also know North East companies can, and do, succeed on an international stage and we would urge them to get in touch to find out how we can help them realise their exporting potential - and it couldn't be easier, just pick up the phone and call the North East International Hotline 0845 05 05 054."