Scottish companies urged to go global
Over 170 companies will attend an international trade event organised by Scottish Development International (SDI) in partnership with UK Trade and Investment (UKTI) in Glasgow today (Thursday 29th March) .
Held in conjunction with HSBC and PricewaterhouseCoopers (PwC), 'Exporting for Growth’ is part of a national initiative that aims to increase the number of small and medium sized enterprises that export, from current levels of 20 per cent to 25 per cent or more. It’s designed to help more Scottish companies explore new markets, access exporting finance and cut red tape.
Anne MacColl, chief executive of Scottish Development International said: “We know that international trade is a key way for Scottish companies to grow and overcome the economic uncertainties that continue to face us all.
“Scotland already has a tremendous reputation for export but SDI wants more home-grown companies and industries to view doing business internationally as a fundamental part of their growth strategy.
“And we know we’re part way to achieving this – just look at the latest HMRC figures that were announced this week, showing that Scotland’s food and drink industry is continuing to boom, with all-time high exports of £5.4 billion in 2011.
“However, we understand that the prospect of targeting overseas markets can be daunting. Together with our partners, SDI has the resources, support and expertise to help companies realise their global ambitions. Events like these are just the start – the opportunities are endless.”
As the only event of the initiative to be held in Scotland, it takes place on the same day as Scottish Enterprise launches its business plan for 2012 -2015. International trade and investment is a key element of this new plan, with Scottish Enterprise committed to increasing international sales by up to £1.7 billion in the next three years.
During the event, delegates will hear from a range of speakers including John Swinney, MSP for Finance and Sustainable Growth, Lord Green, UK Trade and Investment Minister, Anne MacColl, chief executive of Scottish Development International, John Rendall chief executive for HSBC in Scotland, Caroline Roxburgh, head of private business, PwC and Jim McColl OBE, chairman and CEO of Clyde Blowers Capital.
Mr Swinney said: “The globalized economy means that a stronger export performance is essential if Scotland is to move onto a more sustainable, balanced path of growth and strengthen our economic success.
“This Government’s ambitious target to increase the value of our international exports by 50 per cent by 2017 is central to this and is a fundamental part of Scotland’s economic agenda.
“The Scottish Government and our enterprise agencies are working to encourage more growth companies to become active exporters and we are widening our support to helping them to do so.
“Through our enterprise agencies, we are strengthening Scotland’s economic links in overseas markets. These efforts are paying off with the most recent Index of Scottish Manufactured Exports showing annual growth in the volume of manufactured exports of 2.7 per cent to Q3 2011.
“We have also championed Scotland’s food and drink industry and the latest figures showed all-time high exports in this sector of £5.4 billion last year, underpinned by strong performance from the whisky industry.
“Scotland is a hotbed on innovative and ambitious businesses and this Government is working to ensure quality support and advice is available to take them to the next level, go global and realise their full potential and contribute to Scotland’s economic growth.”
Lord Green, Minister for Trade & Investment said: “In this difficult economic climate, we must export for growth. With the help of the business community and Scottish Development International, we want to see many more SMEs in Scotland exporting and this initiative is designed to help businesses survive and thrive in high growth emerging markets.”
Delegates will also have the opportunity to join breakout sessions focusing on specific geographic opportunities in emerging markets and on accessing finance to support exporting activities.
As well as this, SDI supported companies BrewDog, ClinTec International and Skyscanner will take part in a panel session to share their experiences and advice with delegates about targeting international markets.
John Rendall, CEO for HSBC in Scotland said: “HSBC is delighted to be supporting today’s event, which is a great opportunity for companies and individuals to learn more about international trade at a time when an increasing number of innovative Scottish businesses are looking to fulfil their exporting potential.
“HSBC operates in over 80 countries and our global reach and unique international capabilities provide advantages for our customer base, at home and overseas. HSBC understands the clear business benefits which can be gleaned from exporting and is committed to offering Scottish exporters the financial services they require to diversify and enhance their competitive edge.”
Caroline Roxburgh, head of private business at PwC in Scotland, explained: “Research shows that companies that export not only improve their productivity by over 30% but achieve levels of growth and economies of scale not possible domestically. Crucially, they are 11% more likely to survive in the long term.
“This clearly shows that overseas markets present real opportunities for Scottish firms. However, we also recognise that making choices around which markets to focus on and taking the first steps is not always straight forward. Access to finance and a lack of contacts are just a few of the recurring issues we hear about.
“Exporting is not a hard nut to crack, despite the myth. If you have a have a well-run business with a good product offer, and the potential rewards justify the investment and risks, then grasp the nettle and make it happen.
“We are committed to helping businesses get on board the export train and successfully access growing and emerging markets and events like this will go a long way to helping firms reach their destination.”
Click here to find out more about the event.