Despite a growing appetite for exporting among UK micro businesses, finding new customers in overseas markets remains the greatest barrier to trading internationally.
To help entrepreneurs expand their business through exporting, Business Advice wants to hear the success stories of Britain’s small exporters and also tap into the knowledge of experts.
We sat down the managing director a firm specialising in small business exports to find out what entrepreneurs need to know before looking for new markets overseas.
Name: Geoff Runcie
Business: Edge CTP, by Morgan Goodwin
Number of employees: Four
Export markets: We don’t deal in specific markets, but are instead focused on helping UK SMEs with their exporting requirements
In one sentence: Edge CTP simplifies and reduces the cost of international trading for UK SMEs by combining disparate systems working at different stages – we’re doing to international trade, what the iPhone did to multimedia communications.
Describe your business model
Today, there are huge inefficiencies for businesses when it comes to international trade with systems that have been patched together over time as technology has evolved. Our business brings everything needed for international trade together all under one roof – one application.
From trading documents to on-line certification, which we offer for free, through to paid for subscription services that manage workflow, stock process, customer information and logistics.
Why do you export and what’s the impact on your business?
Our businesses does not export directly – we supply the tools to let other who make and sell goods to do so more efficiently. We are in the businesses of facilitating exports for every business involved in international trade.
What is the most difficult part of selling internationally?
International trade is no longer difficult as barriers such as culture, geography, language and all those trading rules have been smashed by technology.
Today, the hardest part of selling internationally is a business moving out of its comfort zone and taking the leap of faith to do it in the first instance.
What’s your biggest piece of advice for other business owners?
If a product is selling well in your native market, chances are it could sell well internationally. Think bigger. Be bold. Go global and reduce you market dependancy risk by expanding to other markets.
Where do you turn to for business support?
We turn to a number of sources. Other businesses with more experience than us through networking with the local Chamber of Commerce members, the Chamber itself and the regional government enterprise agencies.
Brexit: Good or bad for your business?
While there will be challenges, Brexit presents a huge opportunity for British exporters. Exports will be a key differentiator when it comes to the long-term success of UK plc on the global stage and we’re moving from service to connected economy.
Where do you see your business in the next year?
Growing with a wide number of new clients using our software and systems to empower their business activity both in the domestic and international markets.
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