Guest Article: Planning ahead is the key to success when entering a new market

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This week, we are delighted to have another guest post from
Edward Hardy, Corporate Market Analyst of foreign exchange specialists World First.

Scaling up and crossing borders is no easy journey for any business, no matter its size or ambition. The process of navigating different regulatory landscapes should not be underestimated and can be costly if it is not done properly.

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Increase international sales to the EU before Brexit happens

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Selling into Europe presents an even greater opportunity for those who are well-prepared.

You and your customers may be asking about future processes and costs. Will technical and safety standards remain exactly the same? What will the new duties and tariffs be? Will EORI requirements change? How much will inward and outward processing reliefs compensate for loss of free circulation benefits? What about VAT payment and reporting? Continue reading “Increase international sales to the EU before Brexit happens”

Guest Article: What if your costs increased by over 10%?

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This week, we are delighted to have a guest post from
Edward Hardy, Corporate Market Analyst of foreign exchange specialists World First.

A UK-based company who imports from Europe by paying suppliers in euros has seen the rate fall sharply over the past twelve months, falling from a high of 1.44 to below 1.18 – a fall of over 18%.

Even if we assume the company had established a budget rate for the year at 1.35 and they’re now buying at the spot rate, they’re paying over 12% more for their euros than their budgets had suggested on January 1st.

What can you do?
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What if the UK falls back from EU to World Trade Organisation rules?

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60% of the UK’s trade in goods benefits from preferential trade agreements – around 47% with the EU itself and around 13% with other countries and trade blocks that have agreed preferential trade treaties with the EU (see the map from 2013 for a guide). These could be directly affected by a switch to World Trade Organisation rules. We explain the situation below. Continue reading “What if the UK falls back from EU to World Trade Organisation rules?”

5 tips for first-time success for your international sales deal

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Please raise your hand if you’ve ever made a price commitment to a buyer only for someone to point out that that it’s unprofitable or clashes with some internal policy or contract?

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Wrexit – which Brexit model?

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In our previous blog we supported the Remain argument. Uncertainty of exit will not be clarified for many months if not years. Smaller organisations will be disproportionately affected by uncertainty as effects spread through the economy.

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Brexit – stay or go?

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As a small business assisting other small businesses exporting we are often asked our position on the EU referendum. This is a staggeringly broad subject – and we confine our view purely to the process of export order fulfilment.

Continue reading “Brexit – stay or go?”