Make sure you do the research
Jul 29 2010 by David Coppock, The Journal
THE three 'Rs' for export success: "Research, Research, Research!" Careful research is vital for entry into any new market, but when it comes to exporting it is doubly so.
Not only do you need to find out what the competition is like for your market of choice but also what are the local customs and practices, the legal requirements and myriad other potential pitfalls ready to trip up the unwary exporter.
UK Trade & Investment (UKTI), through its International Trade Advisers in the North East and its contacts with trade specialists in British consular offices around the world, is in pole position to help exporters do this research.
Two key elements of this are the range of Market Visits which UKTI organises and supports and its Overseas Market Introduction Service (OMIS) both of which give exporters the chance to gather in-depth information about their target market.
Market Visits are organised trips to key foreign destinations. Accompanied by staff from UKTI, exporters have the opportunity to get first hand knowledge of the market and are also able to make contact with potential partners in the market place.
In the next 12 months, UKTI programme of Market Visits will include China (August 30- September 8 and October 10-22), Canada ( September 6-11), Australia (November 15-19), Brazil, Poland, India, Japan and South Korea and the United Arab Emirates (dates tbc).
OMIS offers a flexible service that can be tailored to offer a range of support from researching the market and highlighting potential business contacts to guidance on technical standards, labelling and packaging requirements.
The service looks to provide key information around the typical requirements of a business making its first steps into a new market, all providing a blend of preparatory advice and research as well as support when a company visits the market.
The North East has a good reputation and a good track record when it comes to export sales and we have been pleased with the response from companies looking at Market Visits and making use of OMIS. Competition in foreign markets is growing stronger and stronger each year and it is important that companies, especially those who are new to this kind of work, really know what they’re letting themselves in for.
For more information about Market Visits, OMIS and the wide range of support services available through UK Trade & Investment to help your company succeed overseas call the North East International Trade Hotline on 0845 05 05 054 or email: enquiries@ukti.rito.co.uk.
:: David Coppock is international trade director at UK Trade and Investment
