Blog | Assessing new export markets in the wake of Brexit
30th January 2017
The UK’s potential exit from the EU has disheartened and worried many business leaders, whilst exciting others. Decision makers are being thrust out of their comfort zone and expected to make global decisions rather than rely on our neighbours’ trade, whilst being offered little in the form of a clear Government Strategy. Whilst we are not in favour of Brexit, we believe that some things won’t change – the working relationships, established processes and consumer demand for products will still be very strong for UK companies dealing with the EU. There are pricing, logistic and customs changes to work through which will no doubt reduce the £133.4bn exports value, but by how much?
Brexit does force UK companies to look further afield at increasing opportunities – but if you’re a successful business already exporting, you should be seeking stronger ties with the USA (£45.3bn), China (£18.1bn), and Saudi Arabia (£5.4bn) anyway. Our strengths lie in innovative products, industrial leadership, and the continual legal and ethical changes to business so whilst a shift is inevitable, the opportunities remain strong.
We help many businesses consider and then implement their global strategies. Fear – not ability – is predominantly the primary barrier in companies’ growth plans, much of which can be eliminated through proper research and a full appreciation of your own strengths. And in terms of testing the water, your digital channels are the best and most cost-effective means to assess the possibility of success. We review:
- – Target Market Dynamics
- Assessment of its recent evolution and future expectations
- Weight and type of Consumer Demand
- Demographic Trends
- Competitive Landscape
- Regulatory Policy
- – Internal Diagnostics
- Readiness of your business to adapt inc pricing, fulfilment and legals
- – Market Entry
- Strategic rollout
- – Partner Evaluation
- Considering direct to market, or partnership options
- – Implement
We enable our clients to gain a clear understanding of the opportunities ahead, utilising third party research as well as our own to formulate a roadmap. The majority of our clients are then armed to reposition financing, consider legal (intellectual property, trademark, health & safety etc) implications and make the move to grow forward.
If you are interested in seeing the growth opportunities in Sweden, Hong Kong or any other international marketplace, then get in touch.