Export Boost Leads To Record Start To The Year
Investment in the latest technology, a continued improvement in the UK economy, and global markets bouncing back has seen Fascia Graphics achieve two months of record-production in the first quarter of 2015. Exports have had a major role to play in this, with our international orders already up by a fifth since the start of the year.
I’m sure many of you are also starting to see this improvement underway. A recent UK Export Epicentres Report by FedEx Express found that some of the least expected UK cities and regions are doing all the heavy lifting when it comes to the number of small to medium sized businesses actively involved in driving exports.
Since increasing exports, the main areas that we have ensured we prioritise are:
Managing The Risks Associated With Supplying New Customers
We have decided to mirror our approach to UK customers and vetted our new overseas customers by requesting two/three references from suppliers they had previously traded with. The referees are researched for validity, ensuring that their customer’s track records are complete and in good standing in reference to paying bills and trading limits.
Quoting & Invoicing
This can be a challenge because exchange rates, terminologies, and product specifications differ from country to country. We have placed an importance on understanding the different markets that we deal with, whilst also taking into consideration the likely language barriers and business cultures. This way we can avoid confusion.
Time & Money
Lastly, we have found that increasing exports requires dedicated investment of time and money. Researching overseas markets and the companies we were to trade with is very time consuming but very worthwhile.
The UK is amongst the top ten exporters in the world and here at Fascia we are excited about the opportunities that exporting is opening up for us. The biggest challenge for a business such as ourselves is trying to absorb the massive increases in input costs. However, through our continuous improvement and efficiency programmes, we have managed to delay passing on any price increases to customers until very recently. We remain committed to this strategy going forward.
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