Thursday, 16 January 2014

Our economy is growing, now it's time to look at exports

Last week the British Chambers of Commerce (BCC) presented one simple message – yes our economy is growing, but our exports still need attention. The house is being fixed, but no one has stepped foot in the garage. It is usual for imports to increase in a situation of growth – and so they have, they’re 2.2% higher than 2012 – yet the amount we’re sending out is, well, not as much as it should be.

What to do now? There are countries both inside and outside the EU experiencing phenomenal growth, and we are missing out as we speak. Think of Brazil and China. We are missing out on the fun parties even though we have been invited. David Kern, the Chief Economist at the British Chamber, identified a number of solutions, and they don’t necessarily involve exporting outside the EU – Poland, for example, is growing faster than those we usually trade with.

Businesses have the leverage of choice with the countries they trade with, now is the time for us to help them realise their international trading potential. Our Exporters Club is busy gaining traction – it will help businesses and individuals get to grips with export procedures, collaborate with other exporters and gain effective trade links.

It is also Herts Chamber’s Year of International Trade, which will celebrate benefits of trading internationally. It will ensure additional revenue potential for businesses, especially those trading in highly competitive UK marketplaces. If it’s still tough in the UK, now is the time to unlock potential outside our front door. For some, going outside will bring nothing but good news.

View the British Chambers of Commerce's original press release here.

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