Exporting

P:OPL: ANA SKILLS:

r Government’s recent survey, Scotland’s international exports (excluding oil and gas) increased in 2016 by £460 million from £29.3 billion in 2015 to £29.8 billion in 2016, with the USA continuing to be Scotland’s top international export destination country (£4.8 billion).

This has been good news not only for Scottish businesses, but also for employment, product and service development and economic stability.

But it does mean that businesses have to think carefully when considering exporting. Points include:

• Think carefully, don’t make the jump into exporting unless your company is already enjoying increasing sales on home ground.

• Carry out a competitor analysis. Establish whether your competitors in the UK are already exporting, including who your local competitors would be in the new markets. This will allow you to assess your competitive advantage on market entry.

Investigate the level of demand for your product abroad.

Assess if your company has the financial resources for international market development and additional staffing resources to satisfy an increase in product demand. Consider the standard practices in the countries you are exporting to – obtaining local knowledge will be important when launching your products internationally. • • •

Managing director, Fairways