Manufacturers in the south west are increasingly looking to export markets as a way to fuel growth.
That’s the conclusion of the latest Manufacturing Barometer Survey from the Manufacturing Advisory Service in the South West (MAS-SW).
It reports 79% of respondents have considered selling overseas, reinforcing key indicators from the latest DHL/BCC Trade Confidence Index, which have shown that UK export activity is continuing to grow and recover beyond recession and point towards expansion.
However, it is not clear how many businesses are export-ready as results from the Barometer Survey indicate that financial support and marketing know-how remain two of the biggest stumbling blocks to manufacturers.
MAS-SW’s MD Simon Howes said: “Export is one of many options available to manufacturers and despite the challenges, is worth careful and thorough exploration.
“An important consideration for manufacturers is to assess if their products are suitable for overseas markets or if they will need to be adapted in any way, for example, in terms of brand names, packaging, regulations and compliance issues or in response to different consumer behaviour, demand and competitors.
“It is also important to evaluate what changes will need to be made to the UK operation to service any overseas business.”