Through 2018, the value of exporting services and products from the Yorkshire and Humber region topped £1.2bn – a 3% increase on the previous year.
Exporting counts for around 20% of the region’s GDP and so is an important part of the region’s economic success and strength.
Mark Robson Head, UK Regions – Yorkshire and Humber at the Department for International Trade said that as a region, Yorkshire and Humber has been selling everything from textiles to engineering for years. Now, often the region is exporting services and expertise as well as physical products. He added: “Virtually everything we make, we sell overseas. There’s lot of opportunities overseas for all kinds of businesses.”
DIT can provide funding support to reach particularly more difficult markets. Where a deal is viable, but it may be difficult to get funding from a bank, some of the risk could be underwritten.
They work with all kinds of businesses, trade advisers and with companies to help plan and market services. The biggest markets traditionally are those who are either close or who speak the same language. So it’s no surprise to find that the biggest markets are the United States, Germany, Australia. But China is growing.
Business owners or leaders thinking about exporting can be “daunted” by the thought of exporting, explained Robson. He said: “They should come and talk to us. Lots of businesses across many sectors have made exporting a real success.
Exporting spreads risk across markets. It means you can produce more and reduce costs, potentially transforming lives. If you think there’s going to be a downturn or something anywhere, or you think you need to have a new product or service – it’s worth just thinking about.
Companies often see exporting overseas as being “very high risk and difficult”. However, it really doesn’t have to be difficult. Find out how to go about it, irrespective of what’s going on in the economy at the moment. There are always going to be fluctuations. Iit’s all about having customers and working out where the next customer is coming from – why wouldn’t you be overseas? Going overseas exposes you to different ways of doing stuff – new ideas, new opportunities; and if you don’t then your competition will.
If you would like a DIT International Trade Adviser to help you with your international growth plans contact: +44 (0) 300 365 1000 or email: firstname.lastname@example.org