Exports are incredibly important to modern economies because they offer people and firms many more markets for their goods. One of the core functions of diplomacy and foreign policy between governments is to foster economic trade, encouraging exports and imports for the benefit of all trading parties.
Companies export products and services for a variety of reasons. Exports can increase sales and profits if the goods create new markets or expand existing ones, and they may even present an opportunity to capture significant global market share. Companies that export spread business risk by diversifying into multiple markets.
Exporting into foreign markets can often reduce per-unit costs by expanding operations to meet increased demand. Finally, companies that export into foreign markets gain new knowledge and experience that may allow the discovery of new technologies, marketing practices and insights into foreign competitors.
A trade barrier is any government law, regulation, policy, or practice that is designed to protect domestic products from foreign competition or artificially stimulate exports of particular domestic products. The most common foreign trade barriers are government-imposed measures and policies that restrict, prevent, or impede the international exchange of goods and services.
Companies that export are presented with a unique set of challenges. Extra costs are likely to be realized because companies must allocate considerable resources to researching foreign markets and modifying products to meet local demand and regulations.
Alison Lyons, Director of Commercial Development for Sesame Access, has been appointed as a 2019 Export Champion by The Department For International Trade (DIT).
Sesame designs, builds and installs bespoke invisible wheelchair access lifts for Listed Buildings. Clients include Bank of England, Sydney Opera House, Kensington Palace and Qatar National Library. Sesame won The Queens Award for Enterprise in Innovation in 2016.
Sesame export across the globe and would love to expand into many more countries. We have lifts as far as Sydney opera house, Seattle space needle and Dubai.
If you think you would be interested in our products and would like to look into exporting to your country please feel free to contact us.
Impacts of Brexit
Brexit could free the UK from EU control and allow it to strike out on its own as a new ‘Global Britain’ trading nation.
However, the EU remains by far the UK’s largest trading partner. Official figures show that 44% of all UK exports went to the EU in 2017, while 53% of all UK imports came from the EU – meaning any post-Brexit future is likely to have serious consequences, both good and bad, for businesses.