One of the pleasures of our business, is to meet new potential overseas clients almost every week and receive enquires on a daily basis from businesses eager to commence trading with the UK markets. Based upon our many conversations and trends that we can draw from our contact, here are some basic tips and hints, that we hope will help you decide if you are ready for the UK.
Please bear in mind that we work with start-ups through to multi nationals – so we must make some generalisations, and there will always be some exceptions to these rules …….
DO ……
Understand that the UK may be a very different market to your own domestic market
Be aware UK markets generally support higher unit prices but the cost of sales are higher as well
Only consider the UK, once you have a very well-established business in your own country
Have Realistic Marketing and Distribution Budgets
Find a Trading Partner, who has excellent local Market knowledge
Know the UK market, before committing to any marketing, advertising or distribution
DO NOT ………
Underestimate the cost of entering a new market, where you are unknown and unloved
Assume that your method of winning revenue in your country will “export” to the UK market
Believe that your product, packaging and supporting information will be correct for the UK customer
Think that all you have to do is open a .co.uk web site, and customers will rush to buy from you
Pretend that distance and culture difference will not make trading more difficult than your domestic sales
Consider a New Export Market, unless you have the management time to support this significant step