International Trade sponsored column
If you are going to grow your business, go where business is growing For those who take a keen interest in overseas trade, they will know what I mean when I say the BRIC economies. This stands for Brazil, Russia, India and China – countries which have been seen for a few years as high growth markets, offering huge trade opportunities to businesses from Coventry and Warwickshire. The acronym has now been extended and we now talk about the BRICS. The additional ‘S’ stands for South Africa because it is emerging as the latest country to offer strong trade potential for firms. The latest figures from the British Chambers of Commerce and DHL suggest that more and more companies are seeing exporting as a way of growing their business and confidence in trading abroad is increasing. To increase our exports, as the Government is so keen for us to do, it means exploring markets such as South Africa rather than those countries that we may have seen as ‘traditional’ markets previously. In August, we are welcoming a market expert from South Africa to the Chamber and that event will open to any businesses wanting to find out more about the trade opportunities.
By Ajay Desai, of the UK Trade & Investment team at the Coventry and Warwickshire Chamber of Commerce.
Then, in October and November, we will be visiting Cape Town and Johannesburg with businesses from this region. There is already strong interest in the visit but places are available for those businesses who can see an opportunity to open trade links with South Africa. As I said above, the BRIC economies have been established as markets we should ‘go for’ for some time now and South Africa does represent a fresh opportunity, with many benefits. Firstly, there is no language barrier and that is always a positive – especially for those who might not be so experienced on the international trade scene. Secondly, their timezone is similar – therefore you don’t need to be making calls at 2am to try to sort out a business deal! Further to that, South Africa has opposite seasonal patterns to the UK so if your business is seasonal – it could be the perfect opportunity to make it work the whole year round. Finally, and this isn’t only true for South Africa but for most nations around the world, they have great respect for the UK and for British business. If a product is coming from the UK it is perceived to have great design and to be of high quality. They like the British values of fair play and integrity. So our advice to businesses is to get in touch and find out more about our event in August and then our trip in the autumn. Of course, when you speak to us, it may be that South Africa or the other BRICS are not for you but I know for a fact that there are international trade opportunities for the vast majority of companies across this area and we are here to help you make the most of them. There is international expertise and advice available free from international trade advisers from your local Chamber of Commerce as well as financial assistance for any market in the world. For more information on our South Africa event or market visit or, indeed, for any other international trade advice, give me a call on 07889 807476 or email ajayd@cw-chamber.co.uk
The game is on for forward-looking company A Coventry-base company has launched a series of innovations to develop international markets. Serious Games International (Game Science Group), based in Coventry Innovation Village at Coventry University Technology Park, uses video games, science and technology to create engagement and solve business problems. Its uniqueness lies in its ability to harness heavyweight games industry experience alongside academia to deliver the best in games based learning, simulations, avatars, data presentation and virtual worlds, adding value to a business and guaranteeing return on investment. The company has targeted Europe, US, Singapore and India with further markets including South Africa and Australia being identified.
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It took part in a UKTI Singapore event, which resulted in success with contracts from Singapore Airlines and United World College and the company is working with UKTI Washington on an event. Mick McLaughlin, of the company, said: “Working with UKTI has enabled us to significantly increase our markets and develop business on an international basis. “Their financial support alongside their business expertise and key contacts has been invaluable in ensuring that we can get in front of key audiences, promoting our innovative work and securing business to benefit the economy. “We are organising an event in India in September and we are hoping to collaborate with UKTI on this. We would also like to collaborate on new markets including Australia, New Zealand and South Africa.”
Exports are on the up Confidence surrounding overseas trade should provide a bounce for the economy, according to business leaders in Coventry and Warwickshire. The British Chambers of Commerce and DHL have just produced their latest trade confidence index and it shows exporting activity is at its highest level since the recession began. It shows more firms are exporting – in both manufacturing and service sectors – and that confidence among the 1,700 respondents surrounding future exports and turnover is on the rise. Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce, said this region had grasped the nettle when it comes to overseas trade. She said: “Here in Coventry and Warwickshire, the Chamber has been working extremely hard over many years to promote the benefits of exporting and, through our international trade team, have provided support for those trading abroad. “Last year, we embarked upon an ‘Exporting is Good for Coventry and Warwickshire’ campaign, which further highlighted the need to sell our goods and services overseas. “We have a range of companies across the region doing business right across the globe and we undertake a range of overseas visits and missions in order to strengthen contacts and foster even more business opportunities. “The latest index from the BCC and DHL is very encouraging and shows that the message is certainly getting out there with regards to companies trading globally. “But it’s vital that we all continue to raise awareness of the benefits of overseas trade and, in this patch, highlight the support available from the UKTI team based here at the Chamber.” For more information on exporting call 024 7665 4321.
Companies offered export support Exporters in Coventry & Warwickshire are being encouraged to grow their export business with new assistance from UK Trade and Investment (UKTI). Under UKTI’s Gateway to Global Growth programme companies can receive support from an experienced International Trade Adviser to help them take their exports to new countries or expand in existing markets. Companies joining the scheme will develop an export action plan and receive support to access international trade training for staff as well as financial assistance toward relevant international trade development work. The scheme is targeted at exporters with 2-10 years of experience and ideally those who have a specific export project or goal in mind, e.g. developing sales in a specific market or region. To find out more contact Mick Page of the Coventry & Warwickshire International Trade Team at mickp@cw-chamber.co.uk or ring 02476 654321 and ask to speak with a member of the international trade team www.cw-chamber.co.uk