Bristol distribution warehouse to let in the heart of UK export hub
Central Park, the Bristol distribution warehouse to let, is pleased to see that many other businesses in the Bristol area are exporting successfully. Exporting has been highlighted by business experts and the Government as a key driver to economic recovery and for building on Bristol’s position as a leading hub for commerce and business, not just in the UK, but across Europe and beyond.
The recently released Great British Export Report from FedEx reports that SMEs based in the South West and London are the most likely to export overseas. However, it also highlights that there is still a lack of awareness; not only of the benefits to exporting but also of the resources available. The Business Pulse survey asked a number of key questions around the topic of international trade and looked at what can be done to improve the current situation. When asked whether they currently trade overseas, the interviewees were split roughly down the middle. Half are already engaged in the global import and export market and just under 10 per cent trade solely in Europe. The remaining 40 per cent are not involved in international trade in any capacity.
When it came to specific markets, the results were split across a wide range of nations right across the globe. No major trading partner stood out but highlighted that South West firms are prepared to travel across the globe for the correct opportunity. Despite ongoing instability in the eurozone, western Europe was identified as the most popular destination for international trading by firms in the region, which has been supported by the close transport links and the EU. In total 28 per cent revealed they trade in Europe on a regular basis. The two other regions of the world to stand out were North America and South East Asia, followed closely by South America.
Establishing and building a business overseas can be very challenging with 20 per cent of respondents citing the need for additional support in establishing new contacts overseas. A further 15 per cent called for greater help in identifying their markets with increased access to tailored advice and support. There is a perception that Bristol is lacking the international credibility in comparison to other regional cities around the UK. It’s felt that the odds are firmly stacked in favour of the South East, which has the benefit of international airports and transport links.
Graham Randall, partner and head of BDO in Bristol, said: “The topic of exporting has produced some interesting results in our survey. It is clear that the issues surrounding international trade are complex but some key points have emerged. Most important is the fact that businesses have the drive to expand overseas, however the problem still lies in understanding how. There is a feeling that more help and support is needed and businesses are calling for the backing of the Government not only in practical terms but also when it comes to understanding cultural and regulatory differences and establishing new customers. The private sector also has an important part to play to help businesses prosper in new markets across the world. Working with the right advisers that have the experience and expertise to help map out your international journey is crucial. It is vital for Bristol and the surrounding area that local businesses become even more engaged with our international trading partners if we are to establish ourselves as a major economic powerhouse.”
The second Business Pulse survey is asking businesses for their views on sustainability, the role of the mid market in the economic recovery and the importance of apprenticeships in business strategy.
Source: Bristol Post