Mark Blayney Stuart talks to manufacturing experts to find out about their experiences of expanding overseas and managing export growth.
Exporters are contributing significantly to the UK’s return to growth. The latest figures from the Office for National Statistics (ONS) show exports contributing a change in real GDP of +2.7% in Q2-Q3 2018 – part of the highest increase in growth since Q4 2016. Recent research from HSBC shows that 74% of UK companies now have a positive outlook on international trade – driven in part by expectations of global economic growth (27%) and buyer/ supplier relationships (24%).
SMEs are demonstrating this bullish approach to export, regardless of Brexit concerns, and capitalising on the weaker pound. But how are manufacturing companies succeeding?
Luxury children’s clothes and accessories manufacturer Britannical has developed both a short-term and a long-term export strategy. “Short term, we’re focusing on the US and Western Europe,” says managing director Rachael Attwood Hamard. “Long term, we’re looking at Asia Pacific, particularly South Korea, China and Japan.”
This is an extract from the Business & Management Magazine, Issue 270, December/January 2018.
Full article is available to Business and Management Faculty members and subscribers of Faculties Online.