Exporting increases productivity, unlocks opportunities and makes good Business sense
I
nternational business is a powerful driver for change - for individual companies, for whole sectors and for the wider economy. Not only can it make companies more innovative, productive and resilient, for many, it is the crucial difference between surviving and thriving. That’s why the UK has put increasing exports at the heart of its growth strategy.
The UK has long punched above its weight for originality and ideas, creating a plethora of products - from the telephone, the toaster, the iPod and the world wide web. The UK’s innovative work and expertise in pharmaceuticals, for example, means that countries across the board are seeking our solutions to match their capability.
Pharmaceuticals aside, the UK excels in other sectors too. In the creative industries, for example, Britain is accredited as a world leader in television production
(it is the second largest exporter of TV programmes), while the UK’s diversity and musical flair reaches out
to music lovers
across the globe. Meanwhile some of the world’s best-known games franchises, including the Lara Croft Tomb Raider and Grand Theft Auto series, have been created in the UK.
And it doesn’t stop there. More than 5,000 UK advanced engineering companies are actively exporting - many on a large scale - with more than 65 per cent of vehicles made in the UK being sold overseas. And when it comes to the environment, UK businesses are designing and producing the goods and services that will shape a low carbon world.
Building on Britain’s history as a
proud leading trading
nation coupled with its strong track record in exporting, UK companies recognise the
And this is just the tip of the iceberg. The benefits to exporting are many and far outweigh the challenges. Exporting reaps
importance of becoming leaders in their field, not only at home but across the world. Not only that but companies outside the UK are increasingly looking to Britain to grow their business globally - attracted not only by the strength and stability of the UK market, but also by the recognition that it is a springboard to international growth.
We only have to look at the figures to see that exporting makes sense. Firms that begin to export gain 34 per cent uplift in productivity; achieve stronger financial performance and are 11.4 per cent more likely to stay in business. Put simply, exporters enjoy levels of growth and economies of scale not possible domestically.
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