36 . Glasgow Business November/December 2013


SCOTLAND’S TOP 10 EXPORT DESTINATIONS IN 2011


USA


Netherlands France


(£3.5bn) (£2.7bn) (£1.9bn)


Germany (£1.4bn) Belgium Eire


Norway Spain


Switzerland Italy


(£0.9bn) (£0.8bn) (£0.8bn) (£0.7bn) (£0.6bn) (£0.6bn)


organisations make is failing to get their paperwork compliant and not properly understanding their risks and responsibilities under the export contract, and so not covering their costs properly. Sue said: “I reckon that about 90 per cent of


British exporters have problems because they are not compliant with either the UK or the importing country’s export regulations. T is can lead to delays, paying excessive duties, impounding or even the goods being returned.” A big problem is not correctly categorising


the goods being exported, particularly to certain countries where this type of item may need a specifi c export licence for strategic or security reasons. For example, ball bearings or an X-ray


component might seem innocuous on their own, but if they are being exported to a


country that needs an export licence, then there are going to be serious problems. Sue said: “T is is a real area of concern as


mistakes are very common and companies need to seek help in ensuring that their export documentation is compliant with the current regulations around the world. T at’s why Amber Road’s global trade management system is a great tool to use to ensure exports are compliant and to take advantage of trade agreements between countries, as well as manage the whole logistics and purchasing process.” Another issue Sue highlights is a lack of


understanding about the terms that companies are shipping on – which means they could lose money. T at’s why it’s important to use ‘Incoterms’, which were established in the 1930s by the International Chambers of Commerce to help promote cross-border


Hedging services help protect against currency fl uctuations


Western Union’s International Trading Trade Monitor for July 2013 highlighted the fear that continues to weigh on UK SMEs over the Eurozone and sterling fl uctuations. Currency volatility is an issue, with 28 per cent of SMEs being hurt by dramatic movements


of sterling over the three-month period, but with more than a third saying that they wish to see its value remain steady. Disappointingly, the survey shows that recent sterling volatility has not led to an increase


in SME awareness of hedging facilities to mitigate risk, with 43 per cent of SMEs unfamiliar with the products available to them and more than one third of SMEs doing nothing to protect themselves against FX volatility. Glasgow Chamber has recently partnered with currency specialists Moneycorp, to establish


Chamber Foreign Exchange – a service to help companies protect against adverse rate fl uctuations and make the most of any positive movements, while providing members with exclusive off ers and highly competitive rates of exchange.


trade. T ey provide a standardised set of agreements to clearly communicate the tasks, costs, and risks associated with the transportation and delivery of goods. Sue added: “Exporters should be shipping


with Incoterms so that everybody understands risks and responsibilities and whose cost is for which account, because you can end up with people being double invoiced. “Without proper advice and support,


businesses can get into diffi culty which can deter them from trading further afi eld than Europe. T is is not what we want to happen – we want to help them succeed in developing their international business potential. “T rough Glasgow Chamber, we can talk


you through the export process one step at a time to get you through that fi rst shipment and show you how easy it can be.”


Chamber is the guide The easiest way to negotiate the export jungle is to get experience and fi rst-hand advice – and with a heritage of promoting international trade going back 230 years, this is what Glasgow Chamber and its preferred partners, such as Exporter Services Ltd, can off er its members. Glasgow Chamber has a suite of export-


focused services for its members to draw on, from assistance on documentation and access to international marketing and business information, to specialised fi nancial products and international trade training, as well as a dedicated advice line. For more information on how Glasgow


Chamber of Commerce can help, visit www.glasgowchamberofcommerce.com


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