Glasgow Business . 35
www.glasgowchamberofcommerce.com
OPEN DOORS TO EXPORTING
Scottish companies are succeeding in developing new markets abroad, and more could join them with help
S
cotland appears to be bucking the UK trend, with rising exports in the fi rst quarter of 2013 – and this momentum has the potential to
continue further, according to an international accountancy report, if Scot ish companies focus on developing new emerging markets overseas. Recent government fi gures show that
Scot ish exports grew by 2.5 per cent in the fi rst quarter of 2013 compared with the previous period, with the largest markets being the UK, Europe and North America. However, if exports are to make a signifi cant
increase over the coming years, then companies need to look beyond the Eurozone and explore the new emerging markets in Asia, Africa and Latin America. If companies can crack these new markets, the UK Good Export Monitor from EY (the rebranded accountancy fi rm Ernst & Young) forecasts exports could reach £20 billion by 2017, compared with last year’s £18.2 billion. T is is based on strong export performances from the aerospace, engineering and chemicals sectors, together with drinks, particularly Scotch whisky. T e EY study predicts Scot ish exports will
experience annual growth of 2 per cent a year – higher than the 0.3 per cent growth forecast for the UK and the 1 per cent a year average predicted for Europe. Although EY foresees continued sales
growth to the US and Germany, it warns that France – traditionally Scotland’s second biggest export market – could fall, along with exports to the Netherlands. T e growth markets identifi ed in the report
include Venezuela, Latvia and Australia – and the Commonwealth Games next year have the potential to provide an important showcase for Scot ish companies. Jim Bishop, EY’s Senior Partner in Scotland,
said: “It’s stunning to consider that the Commonwealth makes up 30 per cent of the world’s population. T at incorporates a couple of billion people in some of the fastest-growing economies where Scotland is exporting. “Any increase in exports must be taken as a
positive, but Scotland’s goods exporters must move away from a reliance on western trading partners and tap into rapid growth trade corridors, where there is great demand for what we do best. Harnessing that appetite will help underpin the recovery of our largely services- based economy.”
While exporting to traditional markets,
such as the Eurozone and North America, is considered relatively straightforward, exporting to countries further afi eld in less-developed regions of the world may be outside the ‘comfort zone’ of most companies. However, overcoming this discomfort
may be a commercial necessity as fears over the fragility of some Eurozone countries continue to grow. Exporting beyond the Eurozone does
require a greater knowledge of international business practices but, according to Sue Wright of Exporter Services Ltd, with the right training and guidance, companies can easily negotiate the pitfalls of exporting further afi eld. Exporter Services works with Glasgow
Chamber to help companies learn how to export their goods and services overseas – an education Sue believes is urgently needed as many organisations are failing to break into new markets overseas because they are get ing the fundamentals of exporting wrong. She said: “It doesn’t need to be diffi cult. If
you plan properly and make sure you get all the information you need before you export then you are going to be successful.” T e most common two mistakes that
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