Sue Douthwaite
Santander Corporate Banking
Ask the Expert: Trading overseas
Sue Douthwaite, divisional managing director, Santander Corporate Commercial and Business Banking, North, Santander Corporate Banking, explains how to maximise export for your business
Q: How can businesses grow through export?
Exporting might not be seen as an option for every business, but for many it can be a superb opportunity to grow, especially when the UK market is slower than usual. It typically works best for businesses with unique products or expertise, and when aimed at overseas markets with similar characteristics to their own. The key is making sure that you really understand your target market.
Before even beginning to think about exports, businesses need to do their research - making sure they understand the characteristics of the market, the way customers behave, the way that businesses behave and the culture of the country.
For example, we recently worked with a company that manufactures ready meals for gastropubs. They were successfully able to export to Australia, because pubs are a huge part of the Australian culture - but they probably wouldn’t have been as successful in France!
Exporting can appear daunting, especially for businesses that don’t currently sell overseas, but the best way to keep unknowns to a minimum, and mitigate risk, is to create strong relationships
Once you’ve identified that there is a demand for your product, the next challenge is finding trusted partners. Support is available from organisations such as UK Trade & Industry, overseas consulates, the Local Assemblies, and local Chambers of Commerce. Trade bodies can also be very helpful in creating introductions, breaking down barriers and making the whole process much easier.
Support will also be available from your bank both to provide transactional support and to help you build relationships overseas. Here at Santander we’re helping businesses to create trusted contacts. Our Breakthrough scheme supports businesses to travel to export markets, and then provide them with introductions to key players: sales agents, distributors and customers, even politicians and diplomats. Many people don’t know that Santander has a huge network in Latin America: so if you’re interested in the fast-growing Brazilian market, we can certainly help.
Ultimately, it’s all down to really understanding your market and the risks involved, and the best way to get started - as with most things - is with
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About Sue
Contact Details
Sue Douthwaite
Divisional Managing Director, Santander Corporate Commercial and Business Banking, North,
Santander Corporate Banking
Sue.douthwaite@santander.co.uk
07713 559892
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