Go West! Firms offered masterclass in exporting to the US
In recent years much of the focus for UK exporters has been the fast growing economies in the Far East and developing world, and though these new markets continue to attract the headlines it is the United States that remains the East of England’s biggest export customer.
Whilst the most recent statistics for the export of goods from the region (as at the end of September 2013) show exports to USA, China and India all increasing healthily (up 8.7 per cent, nine per cent and 6.3 per cent, respectively) it is the United States which is significantly the larger market – now worth around £3.5bn annually to the East of England, with China and India worth £766m and £308m.
For businesses in the East of England, the US needs to be firmly in their thoughts when planning their export strategy. The United States market is still growing and provides a wealth of business opportunities for UK companies from all sectors.
The sheer size of the US, and the vast cultural differences across the individual states, means that it should be treated as a series of regional markets with varying characteristics.
In addition, there are further subdivisions within these regions, making the US market a fascinating and diverse place for UK exporters. With each state having a GDP equivalent to some major European economies, it is clear that exporters need a carefully targeted approach to ensure they do business successfully and maximise the opportunities available.
The team at UKTI East has extensive experience working with businesses exporting to the United States, and can quickly tap into a network of overseas trade advisors and commercial officers from British embassies and consulates across the US. On March 6, the team are hosting a key event for businesses of all sizes looking to break into the US market.
Held at the Trinity Centre on the Cambridge Science Park, ‘Building success in the US’ will comprise keynote speeches from US market experts, as well as seminars addressing specific issues like legal, marketing and the range of UKTI support services available for different sectors e.g. ICT, security and Life Sciences.
During the day, companies currently trading in the United States, will talk about their US experiences detailing what they have learned, and how they have succeeded.
Speakers include Andrew Garner, author and executive mentor to several high profile CEOs of FTSE 100 companies, and David Smallman, a business development advisor with 35 years’ experience of assisting businesses in the United States and presenter of Star Radio’s ‘Smallman - Making sense of Business’.
Commenting on the event Liz Basing, East of England Regional Director for UKTI, said: “The United States remains the largest export market for businesses in our region, offering a growing and diverse array of sub-markets with opportunities for companies from all business sectors.
“Our US event is designed specifically to guide exporters through both the opportunities and the issues they need to consider; from setting up a business, through to financing and legal and marketing issues.
“Businesses attending will get the inside track from US market experts and companies already succeeding across the Atlantic, as well as finding out how to access the support available from the UKTI team here in the East to get them on the right footing.
“We’ve had fantastic interest in the event and places are filling up. I’m looking forward to welcoming as many of the region’s businesses as possible and helping them get the most out of our largest and most vibrant market.”
UKTI is the Government department that helps companies ensure they are best prepared for export through its network of experts and advisers across the UK and overseas. To find out how UKTI can help your business expand overseas call: 0845 641 9955; email info [at] uktieast.org.uk or visit www.ukti.gov.uk
‘Building success in the US’ will take place on Thursday March 6 at the Trinity Centre, Cambridge Science Park, starting from 9:00am to 15:00 with tickets costing £25+VAT.
More information about the event, including how to register, can be found at the UKTI website: http://www.ukti.gov.uk/en_us/export/unitedkingdom/eastofengland/event/676940.html?nulll