trends: global trading


Images this page, clockwise from top right: Gaynor Turner of Macintyres of Edinburgh, Denice Purdie of Purdies Scottish Soap Company, Shed Simove of the Talent Shed, and Macintyres of Edinburgh.


Going GLOBAL M


aking the most of your resources has never been more important; every


pound counts and taking risks on products of low quality or small profit margin is not an option. With these economic pressures comes increased interest in new ways of trading, and a thriving trend for businesses that put the power back into the hands of small businesses. Research undertaken by Alibaba.com, a company that facilitates international trading between buyers and suppliers of all sizes, suggests that almost 90 per cent of small business spend up to £1,000 sourcing a new supplier, totalling £42.72m across the small to medium business sector. Furthermore, 31 per cent of businesses revealed that they review their suppliers every quarter, thus potentially incurring annual costs of up to £4,000 per business. Finding the best suppliers and products without


8 Gifts & Housewares


these costs is now feasible thanks to the growth in online trading, through platforms such as Alibaba.com.


Maggie Choo, director of Alibaba.com, EMEA, explains, “Advances in technology have opened up a host of


opportunities for businesses to “ ”


trade internationally and take advantage of the global marketplace. Our research found that 80 per cent of small and medium sized businesses are failing to embrace international trade with over one quarter (26 per cent) incorrectly considering themselves to be too small to


Small companies are tapping into the international market to make the most of the opportunities available.


trade with partners from outside the UK and citing cultural and language barriers as the main inhibitors to their potential overseas trading success.” Choo continues, “By embracing international trade, businesses can move beyond the UK market and look to diversify their


Research found that over one quarter of small and medium sized businesses incorrectly consider themselves to be too small to trade with partners from outside the UK.


marketplace to ensure long term growth. Globalisation and increasing competition means that importing and exporting is becoming an essential cornerstone in achieving success. Global e-commerce platforms have transformed global trading practices. In just a few easy clicks,


By Naomi Davis


businesses can easily dip their toe in new markets and test the water with minimal resources and no initial investment at all.” This burgeoning trend means that small and independent retailers can source exactly the type of product that they are looking for, but have previously not been able to find, either through lack of time, resources or simply not being able to find a supplier. Users can compare suppliers from across the globe, whether in China or Chelmsford, and place orders of all sizes depending on their needs.


A great example of this is Macintyres of Edinburgh, a jewellery manufacturer and wholesaler owned by Gaynor and Steve Turner. With the addition of Merchants Fine Jewellery creating a retail element to the business, and established partnerships with 8,000 large and small companies, the couple


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