Finance and Accountancy Briefing

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International trading: Foreign liaisons

Overview

Trading internationally isn't just something for bigger companies with huge turnovers. Anyone from a niche food manufacturer to a part-time greeting card designer can achieve and benefit from looking overseas to expand sales.


Figures from UK Trade and Investment (UKTI) reveal that firms who widen their net and secure sales abroad improve their productivity by 34%. There are also 12% more likely to survive during a downturn in the economy.


UKTI statistics also reveal that businesses believe that exporting leads to innovation. In fact, 53% of businesses they spoke to said that a new product or service has evolved because of their business overseas.


 

Tags: Strategy.

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