Taking a global view as Yorkshire takes on world

Exporting goods and services is one of the quickest ways in which companies can expand their market, bring in new customers and grow their businesses.

Thanks in part to technology and the internet, it is also something which is within the reach of most companies, not just multinationals or large corporations.

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For example, just look at this year’s fastest growing small business, Pet Brands, which exports to customers in more than 40 countries across the world as well as running operations in China and India to complement its Bradford headquarters.

There is more assistance available than ever before for companies looking abroad. The Government has made exporting one of the key planks of its economic development plan with an ambitious target of growing international trade to £1trn by 2020. To help this, it has launched the high profile Exporting is Great campaign, which offers a wide range of support to businesses looking to take the plunge.

The Leeds City Region Local Enterprise Partnership’s export network, for which I am proud to be an ambassador, provides help to novice exporters.

It is also important to note that exporting is not confined to selling goods and products abroad – demand is rising across the world for the kind of expertise Yorkshire’s services sector we can offer.

So what steps do companies need to consider to trade abroad?

Firstly, preparation is key. You should spend time planning and researching your target markets and the needs and requirements of their customers before deciding on the countries and territories that are most suitable for the products or services you are offering. The UKTI and local chambers of commerce have great resources and knowledge to help with this process.

You should also look to build up an understanding of local politics and trade policies, quotas, tariffs, pricing and logistics, as well as finding out whether there are any laws or regulations that could hinder your trading. Getting good legal advice on this is a must.

Even though the internet is a great way to sell directly to foreign customers, you may wish to consider securing a local trading partner. The local partner should be someone with a good understanding of the local laws, regulations and trading environment as well as someone whom you can trust.

The trading partner could be an agent, a distributor who buys the goods from you and sells them in their own name, a franchisee or a joint venture partner. A basic understanding of the local language as well as sensitivity to local customs and conventions will be very useful.

Whatever route you choose, you should ensure your legal adviser puts in place robust agreements that clearly set out each party’s rights and obligations and also include provisions that outline how to terminate arrangements.

In a similar vein, you should consider with your legal adviser what to do should a dispute arise, taking into account the differences between legal systems in various countries. Local legal representation can help here – I am a dual-qualified lawyer in Germany – a Rechtsanwältin, and Ward Hadaway is a member of GGI International, a global network of lawyers, accountants and tax advisors. Exporting can be exciting, rewarding and really help your business to grow. Getting the right professional advice will help for this journey to be a success.

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