6 ISSUES FOR JUST £6 Subscribe to Business & Professional Life today CLICK HERE

Going global: Managing your international ambitions

PUBLISHED: 15:03 07 December 2017

David Beaumont, Regional Director for SME Banking in the South West at Lloyds Bank

David Beaumont, Regional Director for SME Banking in the South West at Lloyds Bank


The negotiations to leave the EU make it a good time for South West businesses to target new export opportunities, says David Beaumont of Lloyds Bank Commercial Banking

With Brexit on the horizon and Lloyds Bank’s recent Business in Britain report revealing that South West businesses are feeling less confident about their export prospects in Europe, looking beyond traditional and familiar international trade opportunities is crucial.

There is no doubt that questions remain over the shape of Britain’s future trade relationships with Europe and elsewhere, but with the UK’s exit from the EU set to take at least two years to negotiate, a ‘wait-and-see’ approach may not be the best option for SMEs.

It is encouraging to see South West firms determined to get on with doing what they do best – taking growth opportunities when they arise while keeping an eye on external risks.

And the opportunities are there for the taking.

Prospects and partners

Firms tell us that they still feel positive about their export prospects, thanks in part to the favourable exchange rate making their goods and services more competitive overseas.

But leaving the EU also creates longer-term opportunities in encouraging South West businesses to look further afield at countries outside Europe that could grow into lucrative export markets.

According to UK Export Finance’s 2016/17 report, companies in the South West have already secured £41 million in overseas sales in the past year. Our research shows that businesses expect exports to increase to all markets, including Europe, but most notably to Asia-Pacific, the US and Canada.

These regions provide South West businesses with fresh opportunities to grow their revenues, and a more diverse customer base can also help shield them against cycles in the domestic market.

Nevertheless, exporting presents new challenges and risks, like waiting longer to get paid, which can increase pressure on working capital.

Partnering with a bank with global trade expertise means firms can access a range of specialist funding options and working capital tools that can boost their chances of success.

Support to grow

A supportive bank can provide trade finance products to help mitigate the risks associated with trading internationally, like letters of credit and export finance.

Lloyds Bank also offers an online International Trade Portal, designed specifically to help British businesses identify and prioritise the best overseas opportunities for their products or services.

It is crucial that firms research markets before creating their export strategies and the portal can highlight potential trading partners, offer insight into trading conditions, identify public and private tender opportunities and provide market reports.

Exporting for the first time can be daunting, but the rewards it can generate are substantial.

Our work to support SME exporters is all part of our ongoing commitment to helping Britain prosper globally. This includes helping 25,000 new exporters by 2020 and in the process backing the government’s goal of getting 100,000 more businesses trading overseas by the end of the decade.

The future success of the UK economy depends on SMEs looking to overseas markets for growth, but they don’t have to go it alone.

Visit the Lloyds Bank website here.


Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files

Please log in to leave a comment and share your views with other Cotswold Life visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Cotswold Life staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Cotswold Life account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

More from Cotswold Life

Fri, 12:03

The Cotswolds are abundant with picture perfect locations ideal for a ramble. Gather loved ones, wrap up warm and blow away the cobwebs with one of these winter walks in the region

Read more
Fri, 11:53

Helping clients through divorce, separation and disputes over children, we talk to 8 divorce lawyers in the Cotswolds

Read more
Fri, 11:52

We’ve some extraordinary, and inspiring, women in business in the Cotswolds. We talk to 7 female trailblazers in local industry who offer the business advice they’ve lived by

Read more
Wed, 16:26

Swan Lake. We know the music, we know the iconic imagery of the beautiful ballerina dressed as a swan, but I’m guessing that without reading the libretto in the program, most people don’t know the story. Which is why the audience relies on the dancers to tell us.

Read more
Wed, 11:00

Tom and Louise are being joined by other new academic appointments that have been made as part of the RAU’s £2.5 million initiative to help meet the future needs of the land management and agri-food sectors

Read more
Wed, 10:46

“To win this prestigious award is a real compliment to the wider team in Renishaw’s manufacturing services operation, particularly when we consider the achievements of the other excellent shortlisted companies.”

Read more
Tue, 17:16

Stepping up to receive the world’s first MBA Leading Business degrees at the ceremony were Sarah Bryars, Chief Executive of Target; Luke Freeman, Joint Chief Executive of MF Freeman; and Linsey Temple, Chief Executive of Gloucestershire Engineering Training

Read more
Tue, 17:04

“I am thrilled to see InfoSec People win this fantastic award which is a testament to the brilliant team we have built in the past few years.”

Read more
Tue, 16:36

After a stress-free shopping experience browsing designer brands this Christmas? Look no further than the luxury offerings of Mailbox in Birmingham

Read more
Tue, 10:24

This year sees the 40th anniversary of the publication of Raymond Briggs’ original picture book The Snowman. With three performances of the animated film – with live orchestra – coming to Gloucester Cathedral next month, we thought we’d catch up with Rachel Whibley, managing director of Carrot Productions (and occasional snowman), to find out more...

Read more
Mon, 14:10

It’s the season of terrible puns, magic lamps, and generous genies: Aladdin, the all-new panto at the Everyman, has been written by none other than legendary Blue Peter presenter Peter Duncan, and stars everyone’s favourite clown, Tweedy. The Barnard family from Nailsworth - mum, dad, Harriet (12) and Lewis (6) - made a Wishee (Washee) for tickets; grabbed their car (Window Twan) keys; and dashed off to see A Ladd In Cheltenham

Read more
Mon, 13:45

Crispy, frosty days and perhaps even a dusting of snow, winter is a magical time in the Cotswolds. If you’re thinking of tying the knot during this beautiful season in the region, here are six winter wedding ideas to help you start planning your special day

Read more

Christmas in the Wilson household is a heartwarming, traditional family affair

Read more
Mon, 13:15

Tracy Spiers takes an impressive, if hypothetical, budget on a shopping spree in Cheltenham’s independent stores

Read more

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter

Our Privacy Policy

Topics of Interest

Food and Drink Directory A+ Education

Subscribe or buy a mag today

subscription ad

Local Business Directory

Property Search