In today’s world where neither land nor sea remains uncharted, why is it that so many vastly populated territories rich with product hungry consumers remain largely uncharted by UK Business?
Is it the fear of the unknown perhaps or is there a degree of follow my leader?
As history shows, our nation has a track record in overseas exploration and an insatiable passion for International Trade. I often wonder what Cook, Drake and Raleigh would make of our somewhat passive approach to emerging marketplaces.
As we know, China has dominated the headlines in recent years and will remain a vast opportunity for UK Exporters for some time to come. That said, the opportunity to be “first to market” in some of the less publicised emerging nations may carry far greater appeal to those businesses seeking the utopia of reduced competition and greater margin.
With more and more UK businesses warming to the opportunity of trading with China the lateral thinkers amongst us could do much worse than navigating alternative routes to market.
Ironically if you follow the scent of overseas manufacturing output then you will inevitably stumble upon the next thriving economy and its new found wealth whilst I often refer to these nations as “the untouchables”. From Mexico and Brazil to Vietnam and Indonesia the populations are vast and a surge in demand for western goods and services for many years to come is inevitable.
Yes, emerging nations have infrastructure challenges and yes, International Trade with lesser known territories does have increased risks. That said, if these markets were simple enough to crack then they would soon be saturated by the rest of the world and margins quickly depleted.
I often hear that the world has become a much smaller place, hence with the support of the UKTI combined with a reliable supply chain partner we really should be viewing the world as a single post code.
As the old saying goes – “the only limiting factor is our own imagination!”
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