Let’s imagine you are a Cornish blue-cheese producer with a loyal client base in your local market.
One day you come across an article that mentions research on the benefits of accessing new international markets, and how international businesses are more likely to grow and less likely to enter into a default.
How would you apply this to your business?
Figures reveal that companies planning to export are more positive about future prospects than those with no export plans. In fact, all other things being equal, a company is up to four times more likely to fail if it restricts itself to its domestic market, compared with a business that has clients overseas.
Exporting is a way of not putting all your eggs in one basket.
This won’t come as a major surprise to our blue-cheese producer.They understand the benefits but may be reluctant to export; Our research* shows that one of the biggest blocks to trading internationally is a lack of understanding about how it is done and also where the opportunities lie. Luckily, there are many cost-effective and efficient ways to overcome this initial fear.
We want our blue-cheese producer to discover the top importers of its product, as well as its’ fastest growing markets. We want to give them access to a valuable contact list – containing names, addresses and phone numbers of the key importers of blue cheese in key territories.
Wouldn’t that list of importers be useful?
How helpful would it be to have details of any upcoming trade fairs across the world in your relevant industry, which allowed businesses to contact potential clients? Maybe then following up warm leads from these trade shows and exhibitions?
What about support guides for international trade procedures, such as local laws and cultures, as well as calculators to help with charges, taxes and duties?
Santander Group can provide this support to any business looking to export.
Santander Group has come up with a five-point plan for every SME owner to expand abroad. The plan can be developed at santandertrade.com**, a free tool for their corporate customers.
This facility from Santander, helps businesses find out:
Where there is demand for their products or services;
Which specific clients/suppliers they should be speaking to and how to connect with them;
How to complete a secure transaction;
How to grow their presence in any given territory.
Through its 14,000 branches worldwide and its network of alliance partners; Santander can facilitate new contracts and trading relationships between their clients through a joint trade mission. These types of joint activities are also carried out with UKTI, giving clients information and advice for all parts of the world.
More businesses are benefiting from international expansion. We hope that with these free tools for Santander corporate customers, there will not only be Cornish blue cheese being devoured and enjoyed in St Stephen-in-Brannel, but also in Seattle, Schagen and Sligo.
Head of International
Santander UK Corporate & Commercial
*Based on research conducted by Santander, September 2013.
**Santander Trade Portal is provided and managed by Export Enterprises S.A. Santander provides access to its client companies but is totally unrelated. It is available to customers and non-customers however you do need to be an Online Banking customer of Santander Corporate & Commercial to gain full access to the Trade Portal. Visit santandertrade.com or for information on support for SMEs, santandercb.co.uk