Doing Business in the UK
Welcome to the head office of the Export to Group here in the UK. Our business exists to help businesses like yours develop and prosper in the UK market. We offer market entry and ongoing support to international companies who have selected UK either as a target market or the entry point to the European market for their products, services or technologies. We also offer our UK clients assistance regarding investment and trade opportunities in other markets where we have a local presence and will match their sourcing needs with the appropriate products and services from the best possible suppliers around the globe.
Export to UK- a few facts and figures
The UK is a leading trading power and financial centre, is the second largest economy in Europe after Germany. Over the past two decades, the government has greatly reduced public ownership and entrepreneurs thrive in this very open market. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labour force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy back in 2005. Services, particularly banking, insurance, and business services, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output.
The UK economy grew by 1.7% in 2013, reflecting a gradual recovery from the recession. The economy is showing signs of gathering momentum in 2014 with forecast growth of 2.5%.
The continuing difficulty in accessing credit, particularly by SMEs, still represents a challenge for many UK businesses.
Weak consumer confidence and broadly static wages continue to dampen retail sales and several well-known high street brands have disappeared as a result of severe financial difficulties. There are signs, however, that as the economy and the local housing market pick up, consumer confidence is returning.
As UK and third-country suppliers represent strong competition, exporters to the UK need to offer differentiated products at competitive prices.
Complex EU technical/regulatory requirements can be burdensome.
“Devolved Administrations” present some differences in policies and regulations among England, Northern Ireland, Scotland and Wales. Scotland will hold a referendum in September 2014 on whether to leave the United Kingdom.
The UK government has introduced deep cuts to public sector spending, affecting many businesses and, more broadly, consumer confidence. Despite an improving economic picture, the government is committed to reducing its deficit and the cuts are likely to continue.
A debate has arisen about the UK’s future membership in the EU. The current government is committed to offering an in-out referendum on EU membership if it is still in power in 2017. The Eurosceptic UK Independence Party secured 27.5% of the vote in recent European parliament elections.
The UK remains a highly attractive market with real profit potential for exporters who invest the time and effort to establish trade relations. Export to Group are incredibly well placed to guide you through the whole process from feasibility study to actual sales, and beyond.
Export to UK
Tallis House, 2 Tallis Street, London, EC4Y 0AB