Kelly Hoppen MBE backed the recent British Export Week with a list of Top Tips on ‘Exporting a Business Abroad’. As a proud ambassador of the GREAT Campaign and whilst working closely with UKTI over the years, Kelly not only promotes Quintessentially British brands abroad but is also an extremely successful exporter herself.
Research, Research, Research
Contact UKTI and use the expert international trade advisors (ITAs) to help you research your target markets and potential customers.
Have a business plan and the necessary capital. Talk to your bank and UK Export Finance (UKEF), the government’s export finance provider, well in advance. If pitching to an investor, they will care more about how you are going to a.) get to revenue, b.) scale it over the first year, and c.) retain those customers. Plan your responses in advance.
Meeting With Investors
When preparing to pitch to an investor, it’s important to know your pitch inside and out, and have multiple lengths stored in your brain. This doesn’t mean learning it by rote, but practice the content and deliver it confidently. Include your learnings in your investor pitch. Investors like to see the market research you’ve done. Wherever possible, include positive testimonies from real customers.
Know The Currency
Understand the currencies you will need to deal with. Talk with your foreign exchange provider early, as they can give you insights into the potential currency risks.