Welcome to the latest Enews from Coast to Capital LEP. This month our focus is on Export success.
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We probably all agree that our region needs to be an agile economy to maintain its position as a thriving location for inward and outbound trade. Our innovative businesses are well placed to effectively anticipate and respond to new commercial, technological and geopolitical developments as they take place around the world.
However, research shows that only 21% of companies in our region trade overseas, creating value of £9.1bn for our local economy. Imagine how just a small increase on these numbers would benefit our region. So, with that in mind, in this issue we are pleased to highlight some of the places where you can access helpful information and support as well as some local international trade success stories.
Mike La Rooy – Chairman,
Coast to Capital International Committee
IT’S EXPORT WEEK!
UK Trade & Investment is holding its 6th Export Week and during this week there are a varied series of events all over the UK, aimed at businesses to either start their export journey or increase their international business. Previous Export Weeks have seen over 17,000 companies in the UK attend exporting focused events. Find out more here.
Growth and expansion into new markets are key to building the success of a business, says Malcolm Brabon, Coast to Capital’s Business Support Manager.
This can be achieved not only by winning and retaining domestic customers but also by moving
into international markets. The potential benefits of doing business overseas are considerable, but businesses need to be aware of potential risks. Some are put off by what they consider to be seemingly overwhelming factors from language barriers to legal complexities. But thorough preparation and research can help mitigate the risks and overcome those barriers. If you’re new to exporting there are some questions you need to consider before venturing overseas. Read Malcolm’s advice online here.
EXPORT SUCCESS STORIES...
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Coast to Capital powers local manufacturer’s expansion
Insulated Tools manufactures tools for electrical workers. Since 2010, it has promoted its products in overseas markets including North America, Australia, India and New Zealand.
The company has received an outstanding response and orders are now being received from major multinational companies within the power utilities market place. This success however, has created a need to increase production capacity.
The company successfully applied for a Coast to Capital Business Growth Grant to purchase new machinery to meet the demands of the overseas orders.
Read the full story here.
Software drives international success
Optima Systems specialises in software development. When Optima started out in 1990, the original aim was to provide specialist programming and consulting skills to the IT sector. In 2000, the company first started to explore the idea of overseas trade, but it was only after receiving support from UK Trade and Investment that this side of the business really started to take off.
Fast forward to today and the business has grown its international turnover 18-fold since 2013, from £50k to over £900k, and the outlook is for international trade to become a significant part of its total turnover over the next couple of years.
Read the full story here.
Cheers to Ridgeview’s success
Dedicated to creating world class sparkling wines, husband and wife Mike and Chris Roberts founded the Ridgeview Wine Estate in the South Downs of England in 1994. Since then, the second generation of the family have joined the business, which today employs 13 people and produces 250,000 bottles a year.
Support from Coast to Capital and UK Trade & Investment (UKTI) has helped Ridgeview Wine Estate to proactively explore new markets. A Coast to Capital Business Growth Grant has allowed Ridgeview to install a new, faster bottling line that has more than doubled its capacity and improved the quality of its wines. Exports now account for 20 per cent of its business.
Read the full story here.
