London Chartered Accountants - leading the charge into new export markets

Oct 29
07:00

2012

Daniel Kidd

Daniel Kidd

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With domestic demand still subdued, Britain’s businesses are relying more than ever on export growth to either maintain or improve total sales revenues.

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The government is also throwing its weight behind this change in emphasis as it seeks to rebalance the UK economy away from over-reliance on earnings from financial services.
London however is still business as usual,London Chartered Accountants - leading the charge into new export markets Articles with chartered accountants playing a pivotal role in assisting London based corporations in their international business dealings.
The problem for existing and aspiring new exporters is that our biggest and nearest export market, the Eurozone, has seen demand falling and that the real growth potential lies further afield in harder to access markets.
Whether a company is an experienced exporter or is just starting out for the first time, it is essential that its advisors rise to the challenge and  ensure that it is properly equipped to cross all the hurdles that it is bound to encounter, especially in emerging markets. This is where the benefits of a chartered accountancy firm come into play.With so many service and hi-tech businesses in and around the capital, it is particularly vital that chartered London accountants, lawyers, banks and appropriate government departments put their shoulder to the wheel and help these businesses gain footholds in distant markets where demand is more buoyant than here in Europe.
Of course, British business starts with the advantage of London and the UK’s reputation as a leading international brand following the Olympics and the Diamond Jubilee. 
However, this can easily be tarnished by small, inexperienced companies trying to enter new overseas markets without the right preparation. Factors including not facilitating use of a chartered accountant, poor translation or a failure to employ an interpreter when appropriate are simple ways to get one’s initial exporting effort off on the wrong foot.
Beyond Europe, London businesses seem to regard the Middle East as the most important place to be no doubt because of the continuing buoyancy of its oil revenues and the UK’s long standing ties with the region. There seems to be a general consensus that any company aspiring to build an export business beyond Europe should definitely regard the Middle East as their first port of call and should concentrate on establishing a solid bridgehead there before thinking about emerging markets.
When talking about the latter, one automatically thinks of the BRIC countries- Brazil, Russia, India and China which can all boast above average growth rates but, for exporters, each of them have their own cultural idiosyncrasies which have to be overcome first.
This is where many companies in the London area feel that more needs to be done by the government’s agency, UK Trade and Industry, which seems to provide plenty of help for larger businesses but not nearly enough for small to medium enterprises.

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