Grow your business and exports using advice and support
MANY businesses will be focusing on ways to grow and expand in 2015 and one route to consider is exporting to new markets.
Where there is an appetite from customers, there is an opportunity to expand, which is something that fashion bag manufacturer Supreme Creations capitalised on in its early days.
Following enquiries from overseas, the company decided to seek advice and launch its products around the globe.
Working with UK Trade and Investment (UKTI) and a range of government support services, Supreme Creations managed to smoothly and successfully navigate the world of exporting.
Many small business owners are now looking to the government for a range of guidance to help them build and grow their business.
An example is Andrew Ramroop, the owner of Maurice Sedwell tailors, based in Savile Row.
Andrew explains how expert advice from the government has helped his bespoke tailors to be successful.
“After arriving in UK in 1970 from Trinidad, I had the burning ambition to become a Savile Row tailor and worked hard to fulfil that dream,” he said.
“My recommendation for business owners looking to take their organisation to next stage would be to use the Business is GREAT website for the wealth of advice that is on offer.
“Our UKTI support was a significant turning point and helped me grow my export.
“Thanks to them, we have made suits for customers in around 58 countries, 70% of our overall sales are from outside the EU and approximately half of the orders are placed during overseas visits to customers.”
Government support extends beyond advice, to the likes of financial incentives and tax relief too.
The well-known children’s luggage company, Trunki, accessed tax relief support, helping it to take huge strides forward as a business.
Trunki founder Rob Law explains more: “Alongside moving our manufacturing to Plymouth, allowing us to benefit from The Patent Box scheme, we also received government support through R&D tax credits for the development of our BoostAPak children’s car seat and for the reengineered version of our Trunki suitcases, which is now easier to manufacture in the UK and to recycle”.
In addition to the growing range of financial sources, such as crowd funding and peer-to-peer lending, there are many government schemes and incentives developed to help companies of all sizes secure funding.
As with Trunki, if your business meets the criteria, it may also qualify for help with business rates or tax relief for research and development, so it’s worth doing the homework to see what could benefit your business.
To learn about how the government can support you and your business to grow, visit www.greatbusiness. gov.uk.