Look to overseas markets for growth, says CEO of eCommerce success ASOS

It’s always good when a prominent figure echoes what we’ve been saying for years – expanding into foreign markets using your website is a great way to grow your business, and is a low-risk option in these difficult financial times. (more…)

International Trade will keep your company afloat

Trade figures have recently shown an improvement in business exports  – partly due to the weakened value of our currency. According to research, companies which trade internationally are more likely to stay in business longer and are usually more profitable than those which choose to concentrate only on domestic sales.

Exporting is a great way to expand your business – those who trade internationally grow faster and fail less often than companies that don’t, and the current weak curerncy makes our prices much more competitive, so there’s no time like the present.

Which products/services sell well in Europe?

Machinery, engineering products and consultancy, vehicles, aircraft, plastics, crude oil, chemicals, plastic and rubber, metals, foodstuffs, beverages, textiles & clothing are all in demand throughout the Eurozone, and a little effort in approaching a potential client in their own language can go a long way. Even something as small as localising key pages of your website for a foreign market show that you are interested in foreign customers, and are a forward-thinking company.

What about in Asia?

The main exports to China are electrical/mechanical equipment, precision instruments (medical, optical, photo, technical), plastics, iron & steel, chemicals and pharmaceuticals, and Automotive , Biotechnology & pharmaceuticals, Construction, Engineering, Financial services & ICT are all industries which have experienced growth there. As for India, there is a similar focus on engineering, sciences and technology, but in fact opportunities exist there for most sectors.

Where else should we look to?

Emerging markets have been identified in Poland, Vietnam, Mexico, United Arab Emirates, Ukraine, Singapore, and Argentina. Opportunities exist in various sectors in these countries, notably design, consultancy and engineering – the sectors that are most commonly successful for overseas trade.

Brazil and Russia will also continue to be key areas for companies trading internationally.