The recent global success of London Fashion Week clearly demonstrates the continued worldwide appetite for UK goods.
In particular, UK designers such as Erdem were making a real global splash.
Erdem is a designer who attracts an international audience through a combination of excellent design and a sound export plan.
This proves that export is not just the preserve of larger retail conglomerates - it should form a central part of the growth strategy for small and medium enterprises (SMEs). There are some great case studies and research being produced around this area. For instance, the NatWest Guide to International Trade contains a wealth of information on how to trade internationally.
Key tips include learning about the overseas markets and tackling one at a time, focusing on building good relationships, checking the copyright on your products and checking your customers’ ability to pay.
With the right advice on markets, the rules and regulations that govern overseas trade and how to balance the risks with the potential rewards, export plans can really help drive the revenue and global recognition of SMEs that are willing to put the effort in. Just ask Erdem.
- Jonathan Coates, Relationship director for commercial banking - fashion, retail and wholesale at RBS