While exporting is not right for every company those companies who do export:
- are more productive and innovative than non exporters;
- are more resilient to an economic downturn;
- achieve stronger financial performance;
- have a higher profile and more credibility;
- are more likely to stay in business
Furthermore, research suggests companies who export are responsible for 60 per cent of national productivity growth and more than 70 per cent of UK business research and development. Helping to give them a technical competitive advantage, leading to more sales and opening new markets.
Every company is different and the benefits of exporting will vary greatly depending on a company’s personal profile. As well as opening access to new sources of revenue, trading internationally allows the spread of risk across a wider range of your clients, extends the market for specific products and enables companies to become aware of international competition more quickly.
Exporting can also be a catalyst for innovation. In many cases you will see new ideas and opportunities overseas which will spur you to develop new or modified products or services to meet the needs of international customers.
An increasing number of young UK companies are embracing international opportunities from an early stage. Almost one in five new companies are currently active abroad – and so have been doing business overseas since they started trading.
If a company has a product or service that may have an international client base then it’s worthwhile that company looking more closely at the opportunities that exporting presents. Liverpool Exporters Network will help companies take their first steps into exporting by providing access to a community of businesses that are at different stages of their exporting journey and who will be able to provide insight into the pros and cons of exporting.