While Brexit is extremely complicated and could potentially affect most industries in the UK, one of the most obvious unknowns is around exporting.
With so many companies manufacturing and exporting goods from the Midlands, the local workforce is acutely aware of the huge impact any changes to the landscape could have on the local economy.
A change of perception
The UK economy has been closely tied to Europe for so long it has created a certain mindset for exporters. However, with the EU and the rest of the world looking like they’re going to be on a much more even footing moving forwards, the rest of the global community is also equally as appealing. There are many countries outside the EU with booming economies and high levels of consumerism.
The businesses that wish to continue thriving will look to markets all over the world. This will help them to spread the risk and make them less susceptible to national economic fluctuations. The weaker pound also makes buying from the UK more appealing to customers in these nations.
A great brand
Brand UK is widely respected around the world, especially as a producer of high-quality items. The Chinese market is rife with high quality products that have a Union flag on the label. As a UK manufacturer the appeal is already there. The key to being successful is how you enter a new market.
Maintaining the image
To successfully enter a new market, you need more than just a good product. There are cultural differences that must be considered. These are not just important to how your product will be received, but also have big consequences for your marketing efforts. Because the UK is seen as a supplier of quality products, any below par aspects of your product will damage the image.
In order to maintain this image and to be seen as the quality choice you must ensure all of your marketing, product literature, instructions, and any digital communication is spot on. This requires more than running your existing materials through Google Translate. Using a professional company that can not only translate the material properly, but will also help with any cultural differences, will go a long way to making sure you’re presenting yourself in the right way.
Post Brexit outlook
Even in the face of uncertainty, the Midlands manufacturing sector has continued to grow. Exports have risen by 34%, partly driven by the ingenuity of the companies operating in the sector, and partly because of the weaker pound.
The government is also putting initiatives in place to try to help companies that aspire to trade in a global marketplace. The Advanced Manufacturing Supply Chain Initiative offers a grant to manufacturing companies in the Midlands who are expanding. Even private investors are backing the expertise and experience of the Midlands manufacturing sector, with tens of millions of pounds pouring in to Midlands based SMEs in the next year.
The general consensus seems to be that a long-term view is the best one to take. Investing in global markets, talent, infrastructure, and innovation will help to keep the Midlands competitive and at the forefront for many decades to come.
This article was written by Mary Gilbey, Managing Director of Anglia Translations Ltd, who specialise in helping their clients successfully enter new markets abroad.
