Focus on Manufacturing
The UK is a leading global manufacturer and contributes around £6.7tr to the global economy. With a world class reputation in the automotive, aerospace, and pharmaceutical sectors, growth of UK manufacturing is expected to continue into 2015. The UK is currently the 11th largest manufacturing nation in the world and makes up over 50% of exports. Contrary to common belief, UK manufacturing is performing well.
However, Asia dominates the manufacturing sector, where it now makes about half the world's goods. Asia's power and anticipated endurance is expected to continue, with China's grip on manufacturing tightening despite the rise of wages.
Demand for the UK's innovative and quality products remains strong throughout the world, and the potential for rapid growth through selling in a new country and a wider range of customers are amongst a number of benefits in international trade. But with benefits come risks. Have you identified the dangers of selling abroad? Are you fully aware of what international trade involves? Have you researched the change in law, language, and selling cultures?
International trade has to be approached sensibly so as to maximise the benefits and minimise the risks. Going Global will shed light on the challenges you will face if setting up business from abroad.