International Trade - Be Prepared

The European Union is the single largest commercial market in the world currently with 27 Member States and still growing. Its free trade agreements make the EU one of the most straightforward territories to do business with, so much so that transfers of goods and services from one member state to another are called dispatches rather than exports.

International trade however, is not something that any business should contemplate without adequate and detailed planning. Trading in international markets will mean your business has to handle not only foreign currency payments, but also protect itself against fraud and the risks of late and non payment. Trading overseas does present a number of unique challenges to your business finance, but none of these should be a barrier to you trading successfully overseas.

Whether you want to move your business into an overseas market for the first time, or move into different markets, taking advice is a sensible option. Don’t hesitate to tap into the specialist knowledge that is available through your local Chamber of Commerce and organisations like the Enterprise Europe Network and UK Trade & Investment.

Colorful Expansion in the International Markets - Case Study

ColorMatrix Europe has been trading in the UK since 1993. It is a major supplier of colourant additive and dosing systems to the plastics industry.

In 2009 ColorMatrix were granted their 3rd Queens Award for International Trade. Since 2006 the company’s export earnings have increased by over £12 million from markets in about 40 countries worldwide.

New markets acquired in the last couple of years include Albania, Lithuania, Poland, Romania, Russia, Ukraine, Uganda and Nigeria and they now have a commercial facility and registered entity in Moscow to push the sales and growth in Russia. They see huge potential in the emerging economies, whereas in some of the EU countries we have traditionally traded with, it becomes harder and harder to grow the business.

Following the presentations there will be a buffet and a factory tour of the hosts, Sonae (UK).