This section considers the benefits of international trading, then takes you through the stages of assessing your own company's suitability for exporting.
Companies always face a degree of risk when they decide to start exporting; and smaller businesses, without considerable in-house resources, may feel particularly exposed. The rewards for those who compete successfully can be considerable and we are on hand to guide you every step of the way.
Exporting can be a path to growth, but there are some areas you should research to ensure that expanding into overseas markets brings rewards, not problems.
For example, the product regulations and quality standards of other countries may be different. You'll need to check that your product is compliant. For certain products, you may even need a licence.
Product packaging, literature, advertising and point-of-sale material will all need translating, and quite possibly reviewing, as straight translations don't always work in another language.
On the financial side, you may be exposed to exchange-rate fluctuations after you've agreed a price. You'll also need to sort out the logistics of getting your goods to their destination. There can be more stages and more documentation involved in the international carriage and loading/unloading of goods, so it's important to be clear about responsibilities.
To learn more about these risks, ways to minimise them, and where to get further guidance, take a look through our guide.
The most successful exporters understand the impact that cashflow and risk have on their business. It's no different to the everyday management of your business. As a starting point, why not try our export cashflow calculator to see whether your cashflow can manage in an export market? It will help you to understand the key steps in the process and find out whether you have enough finance to keep going until your buyer pays you.
For more information about exporting speak to your Relationship Manager who will put you in touch with one of our International Business managers to share your plans. We recommend that if you are going to export you need to look at your working capital needs and meet with your Relationship Manager to explore the options available.
View our exporting cashflow calculator
This tool is for illustration purposes only. It cannot take into account all the variables that affect your business. If you want to understand how to trade more effectively abroad then call your relationship manager who will put you in touch with a Lloyds Bank Commercial Banking International Business Manager. They will share their experience to help you manage your exports more smoothly and efficiently.
How do you know whether you should export or not? Everyone is talking about it but do you have the right products or services? How will you market your goods abroad? How will you make sure you get paid and how long will it take?
Try our 'am I ready to export' tool and work out if you're all set to go and who can help to give your business the best chance to succeed?
Try our exporting decision tool
The UK has the 6th largest economy on the globe and is the 2nd largest exporter of commercial services. The UK manufacturing sector accounts for nearly half of total UK exports (including services), Machinery and Equipment accounts for over £20bn of exports, electrical and optical goods a further £33bn. And growth is happening; $20 trillion of economic expansion is forecast globally between 2010 and 2015, with 60% coming from emerging markets.
How can we help you break into these new markets or start promoting products in different languages? Watch our video to find out how one of our customers has done all this and more.
Lloyds Bank is working with customers, government, trade associations and other banks to improve opportunities for UK exporters. We recently took part in a discussion with industry leaders and customers to see what we can do to help our customers to export successfully.
Small and medium-sized businesses which currently trade or plan to trade overseas will play a crucial role in the UK growth agenda. Colin Hemsley, Head of Trade at Lloyds Bank, shows how the right kind of support is vital to encouraging businesses in this arena.
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We have 21 locally based International Specialists who will look to gain a deep understanding of your business objectives and identify ways to minimise the risks.
Find your locally based International Specialist
We have found great success over the years in selling our products abroad and exporting has become an important cornerstone of our company's growth.
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