The opportunities for business growth and expansion through trade are huge. If you're thinking about trading with the EU and other markets, or want to continue trading, there are rules you need to follow for importing and exporting. It can be overwhelming, but the West of England Combined Authority’s Growth Hub is here to help you get started.
We’ve outlined what you should think about when planning to trade with the EU and other global markets:
- Prep a business plan to evaluate your needs and set your goals. It’s essential to assess your readiness and commitment to growing internationally before you get started.
- Conduct European and international market research and identify international markets.
- Evaluate and select methods of distributing your products and services abroad. There are many ways to distribute your products and services, from opening subsidiaries to working with distributors and setting up joint ventures.
- Learn how to set prices, negotiate deals and navigate the legal nuances, processes and licensing of exporting.
- Tap into government and private sources of financing.
Let’s get your business set up to trade
An Export Academy scheme is available to support you in your exporting journey. Applicable to a wide range of businesses, whether you want to start exporting, or you’re aiming to enter new markets, we’ll help you overcome many of the common challenges that small businesses can face.
The Export Academy delivers a series of activities that build your capabilities, creating a new cohort of confident businesses ready to trade. This programme is designed for owners and senior managers of businesses, and to qualify your business must have a turnover of up to £500,000 and be located in the Midlands, North of England or the South West of England
Funding is now available
The government’s £20m SME Brexit Support Fund offers support for businesses like yours to adjust to customs procedures, rules of origin and VAT rules when trading with the EU. It could give you up to £2,000 if your business has up to 500 employees, and no more than £100m annual turnover. If you trade only with the EU, and are therefore new to importing and exporting processes, you can apply for grants of up to £2,000, to pay for practical support including training and professional advice to ensure you can continue trading effectively with the EU.
Help is at hand – contact us today
Planning and executing your trade plans means you need to be flexible and adapt to the new rules on export, import, tariffs, data and hiring. The West of England Combined Authority and its dedicated business support service the Growth Hub is here to help you navigate the rule changes and find new opportunities so you can future-proof and grow your business.
One of the West of England Combined Authority’s key ambitions is to rebuild business, helping new and existing businesses to survive and thrive. We’re providing increased support which you can find through the Growth Hub.
The West of England Combined Authority has also released a Business Support Guide which contains guidance on everything from business grants to the extensive range of support programmes now available.
Contact us here today for more information
