Researching export markets – Genie Insights
In this guide:
- Researching export markets
- Advantages and disadvantages of researching export markets
- Researching export markets online
- Researching customers and markets abroad
- Conducting in-market export research
- Research product and packaging changes for export
- Top tips for conducting export market research
- Carrying out and commissioning research on overseas markets
- Researching export markets – Genie Insights
Advantages and disadvantages of researching export markets
The benefits and potential drawbacks of researching export markets before selling to them.
Researching potential export markets before you commit to entering them is a logical step but there are things to consider before you start.
Advantages of export market research
There are a number of benefits to undertaking market research before you enter new overseas markets, these include:
- spotting trends
- minimising risk
- identifying threats and opportunities
Disadvantages of export market research
There can be potential drawbacks to conducting market research, these may include:
- the expense of accessing expert information
- outdated information leading to bad decision-making
- it can be time-consuming
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Researching export markets online
Ways of conducting online research on export markets.
Conducting thorough online research can help you pull together valuable information which can be crucial to your export planning. It will help inform your decision making in a timely and cost-effective way.
Researching potential overseas markets online can help you:
- assess market potential
- find customers
- analyse your competition
- assess market barriers and risks
- find the best routes to market
Read more about the things you should consider when trading with the EU and when trading with GB and countries outside the EU.
Business risk reports
Read the Overseas Business Risk reports for information on political instability, terrorism, crime, corruption, human rights issues and intellectual property risks.
EU Market Access Database
You can check the EU Market Access Database to research a country's duty rates and licensing rules.
Check whether EU wide technical rules or national rules apply if you're sending goods within the EU. If technical rules or national rules apply, you can get advice from the product contact point for that country.
Invest NI Business Information Centre
The Invest NI Business Information Centre provides free access to market research, company databases, and other business information to help local companies develop their markets, identify export opportunities and find new customers.
The Centre is located at Invest NI's office in Belfast. The wide range of business information includes:
- trade and business journal collection
- details of trade fairs
- worldwide country profiles
- tenders information
- guidance on import/export procedures and business agreements
To access this information, call the Invest NI helpline on Tel 0800 181 4422.
Tenders Alert Service
The Invest NI Tenders Alert Service allows you to identify local, UK and European contract opportunities from a wide range of public sector organisations via a daily email alert service. It also has information about selling to the government - it has compiled a NI Councils Procurement fact sheet giving contacts for buyers and brief data on how they buy goods and services.
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Researching customers and markets abroad
Research overseas markets, consumers and countries to make informed decisions about your business.
When researching overseas markets, you will need to identify your potential customers and their needs, by considering the following factors:
- Who will buy from you? Each marketplace is different. For example, you may find that your overseas customers are in the public sector, while those in your home market are small businesses.
- What influences customers' purchasing decisions? This could include culture, age, gender and many other factors.
- Why do customers buy from you? Consider what you need to know about your customers' needs.
- What price can the product profitably sell for? This will influence your pricing and marketing decisions.
Read more about how to create customer personas.
You need to establish:
- Size of your potential market - this could be limited by population, cultural or economic factors.
- Politics and economics - an unstable political climate or unfavourable trading conditions can make exporting risky.
- Culture - this may affect your selling proposition. Investigate any barriers to your product's success. Will your product be valued the same as at home? Will your customers have the same reasons to buy it?
- Language and etiquette - can you market your product effectively in the local language? Will you have access to professional translators and marketing agencies? It is important to communicate effectively and understand cultural differences.
- Safety and security - the risks presented by local terrorist activities as well as the global risk of indiscriminate terrorist attacks. Also, the level of crime in the target market. Read more about overseas business risk.
- You can also find travel and security information in your target market.
Support for researching other countries
When researching potential countries to sell to, you can find information from the following:
- Invest NI support for selling outside Northern Ireland
- The Department for Business and Trade support for planning entry into new overseas markets
- Search for commercially available research from Market Research World
- Trade visits provide valuable first-hand experience
Invest NI Graduate to Export programme
The Graduate to Export programme from Invest NI aims to help Northern Ireland companies with their growth plans by providing them with support to employ a graduate for up to eighteen months to take forward a market research project that targets a specific overseas market. Read more about the Graduate to Export programme and its eligibility criteria.
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Conducting in-market export research
Ways of conducting in-market research on export markets.
Once you have gathered enough information through online research to help you choose appropriate markets for your product or service, you should then conduct some in-market research.
Visiting your target market will allow you to gather specific information on the market for your product or service. You could also visit a trade show or conference, or participate in a trade mission. The data you gather in-market should be accurate and up-to-date.
Overseas Market Introduction Service
The Overseas Market Introduction Services (OMIS) is a chargeable service offered by the Department for International Trade through its network of staff in overseas embassies and consulates. It can be commissioned and managed online. OMIS offers:
- bespoke market research, sector advice and market entry strategies
- support during overseas visits
- identification of possible business partners
- help to prepare for exhibitions, events and trade fairs
Contact an International Trade Adviser (ITA) to find out about OMIS. Your ITA can help with advice on all aspects of exporting.
Trade Advisory Scheme
The Trade Advisory Service provides businesses with tailored export consultancy from Invest Northern Ireland advisors based in overseas markets. For information on the Trade Advisory Scheme call the Invest NI Business Support helpline on Tel 0800 181 4422.
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Research product and packaging changes for export
Adjusting your product to comply with law overseas.
You may need to adjust your product or its packaging to comply with local laws and regulations. For example, there may be specific health and safety standards in your target country that differ from those in the UK. It is your responsibility to make sure you comply - and errors can be costly.
You may need to adjust your product or operational set-up to comply with local laws.
You should investigate:
- local export legislation and technical regulations
- certification and testing requirements
- local standards affecting your existing and future products
- product liability
- quantities and units
- patents and trade marks
- staff qualifications
Find out about the Invest NI support available for exporters.
You may need detailed information on international aspects of standards, accreditation and measurement infrastructure, including more specific facts and figures for a number of countries. You should also be aware that your product may need an export licence, or be subject to import duty and sales tax outside the European Economic Area.
The British Standards Institute (BSI) international projects department can help you deal with technical barriers to trade including any regulatory issues you might face.
Read more about how to make your product packaging effective and how to package food for export or import.
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Top tips for conducting export market research
Five top tips to help you conduct your export market research.
Researching your potential customers, competitors and the trading environment in your target overseas markets, you will increase your chance of success.
The following tips will help you successfully research your export markets before committing to entering them.
- Use online databases to investigate the demand for your products in new markets as well as if the market share is there - read more about researching export markets online.
- Consider visiting the markets. Visit your target market to gather specific information on the opportunities for your product or service - read more about conducting in-market export research.
- Get help - Before you make your first move into an overseas market, you should seek expert advice and support. Find out about the available support for exporting.
- Confirm the reliability of your data with multiple sources.
- Research the laws, legislations, taxes and trading standards in the countries you're hoping to trade in - view a range of exporting country guides.
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Carrying out and commissioning research on overseas markets
Undertaking market research in overseas export markets.
Market research is available from government agencies and commercial organisations.
Conduct your own market research
You can conduct research using media sources, such as newspapers, trade journals and the internet, and get information by networking with experienced exporters. Your trade associations may be able to help you with contacts. For many small businesses, the best approach is to visit the market and spend some time interviewing a range of people. Read more about how to develop an exporting marketing plan.
GOV.UK produces 'sector in-country' reports for many markets.
Commission market research
You can commission a market research agency to investigate your overseas market on your behalf.
Decide whether you want to use a UK-based agency or a local one. A local agency may understand your potential customers better and will be able to access the necessary information more easily. You should select your agency carefully, and check that their proposal shows that they understand your needs.
State what you expect to find out from your research in a clear brief. This should specify your aims in commissioning the research, and the timescales and presentation you want. Describe your business and product, state the information required and the geographical scope.
Access published market reports
You can also buy reports on some overseas markets.
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Researching export markets
Researching export markets – Genie Insights
Matt Reeve, Director of Genie Insights, explains how the business researches export markets.
Genie Insights provides complementary products and services to the transport and logistics industry. Their two primary divisions are fleet management software and solar solutions for commercial vehicles.
Matt Reeve, Director of Genie Insights, explains how the business researches export markets.
Export markets
"Until recently, our main customer base was within the island of Ireland, when we were solely supplying our fleet management software and offering other related consultancy services. However, in 2020, we moved into the supply of physical products (solar panels), which have a much broader scope for export."
"Our primary export market for our solar solutions is currently Great Britain, but we have started to move into some of Europe, specifically the Republic of Ireland, the Netherlands, Poland and Scandinavia."
Conducting market research
"When we first added solar panels to our business, we were a small team competing against businesses with larger sales teams. So, we had to devise a different approach that would allow us to punch above our weight. Instead of selling directly to the market, we built strategic distribution partnerships with original equipment manufacturers (OEMs) to supply our product. Although we had less control over the direct-to-market sales, we could leverage the OEM’s larger sales teams to get our product into the market."
"For our software product, we have used industry-specific databases that have given us the ability to prioritise potential customers based initially on fleet size. From there, we can then complete online research to find out more. As well as company websites and social media profiles, we’ve found it useful to search for companies in the news or industry trade journals, as you can often find quotes in articles from the relevant decision-maker."
"For our solar division, most of our relationships have been built via personal connections. As we roll out a new product for a specific application, we have sought to align ourselves with the market leader in the industry sector."
Advice and support
"We are very grateful to have received support from Invest NI to assist us with some of the costs of the in-market research. This has been via the Growth Accelerator Programme (GAP) and the ‘Going Dutch’ programme."
"The GAP has provided financial assistance to support the cost of travel to export markets to meet with potential partners. We launched our solar division during COVID so most of our sales activity was established via remote online meetings. Once travel restrictions were lifted, it was invaluable meeting people face-to-face to better build the relationships."
"The GAP has also supported attendance at various trade shows – there’s no better way to get face-to-face with potential distributors and customers."
"The Going Dutch programme went even further – Invest NI’s team conducted research and set up appointments for us before our market visit. Following the initial market visit, we now have a sales agent in the Netherlands."
"But perhaps the most significant impact Invest NI has had on our business has been the Key Worker Salary Grant. A contribution towards an employee's salary has helped us to bring on additional much-needed resources."
"Our export growth has been steady over the past few years. Between 2019 and 2023, our sales outside NI grew from 42% to 94%. This activity is still heavily focused on GB as our largest export market, but sales to the EU are increasing year-on-year. By the end of 2024, we anticipate EU sales will exceed 10% and may see sales into further new markets."
Business challenges and successes
"The only way to be effective going into a new market is to understand what you are getting yourself into. Insights from market research can guide product development, assess competitor activity and identify appropriate target customers. This approach helps you go into a market with a clear understanding of how you should be positioning your offering and who you want to sell to."
"Having a more strategic approach to market development has been a lesson for us. In the earlier days, we were guilty of trying to design products to suit all market applications simultaneously, but we quickly realised that we didn’t have the resources to do that. When we re-focused and concentrated on researching and launching one product application to one market segment at a time, everything became more manageable. Because we put most of our time and energy into researching and delivering for one market initially, we could more quickly dominate that market before moving on to the next application and the next to replicate the model.
"Having to ship a physical product abroad is still challenging today, particularly when despatching it to a new market for the first time. We have sought advice from a company specialising in customs arrangements when we’ve needed it."
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Support available for exporting to France
Advantages and challenges of exporting to France
Be aware of the advantages and challenges of doing business in France.
There are advantages and also potential challenges for Northern Ireland companies doing business in France.
With a population of over 65 million, a strong industrial base, and many large national businesses, France offers good export potential.
Advantages of exporting to France
France can offer numerous benefits to companies looking to do business in the region including:
- large consumer population
- highly developed transportation infrastructure
- diverse, skilled workforce
- spending on social services is the highest in the world
Challenges of exporting to France
You should also be aware of some challenges you could face when exporting to France including:
- language barriers
- high labour costs
- high business tax rates
- business entity establishment laws can be complex
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Sectoral opportunities in France
There are a number of sectors that could potentially offer some opportunities to Northern Ireland companies.
Opportunities exist for UK companies across a wide range of sectors, including renewable energy, advanced manufacturing and technology.
There are a number of sectors that could potentially offer some opportunities to Northern Ireland companies.
France is developing its renewable energy capacity, including wind, solar and biogas, through the Government’s Multiannual Energy Programme. The country currently ranks third in EY’s Renewable Country Attractiveness Index (EY, 2019), behind China and the USA, with large projects expected in offshore wind including floating and solar power.
Advanced manufacturing
Advanced manufacturing in France is highly developed and contributes 14% to its GDP (DGE, 2018), particularly the aerospace and automotive sectors. France’s automotive manufacturing accounts for nearly 10% of global production (PWC,2018) and has a full vehicle and equipment supply chain. Its aerospace industry exports €55 billion of its annual outputs (Techniques de l'ingenieur, 2020).
Technology
France is a digital economy, with more than 10,000 start-ups. Technology accounts for more than 4.1% of the country's GDP (UNCTAD, 2019). The "French Tech" initiative brings together the most dynamic digital ecosystems throughout France. The government is focusing on promoting strategic sectors, with a technological component to emerge and develop.
Infrastructure and construction
With a 140 billion euro turnover (FFB, French Building Federation, 2019) and major projects underway, the dynamic construction sector offers growing opportunities. French contractors are open to innovation and interested in BIM (building information modelling) services and digital planning tools. There are also opportunities in clean growth and energy saving techniques, smart cities related goods and services and prefab and renovation expertise.
Retail
France is Europe’s second largest consumer base, with an affluent population. The French retail market is mature, sophisticated and its luxury sector is world-renowned. With high levels of household consumer confidence, it is important to consider factors such as quality and innovation to be attractive in a highly competitive market.
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Taxes, duty and legal considerations when exporting to France
Find out about the numerous things you need to consider before you start exporting to France.
There are a lot of things to consider before you start exporting to France. It's essential to find out about local rules and regulations on tax and duty in your intended market.
Taxation
The UK and France have signed a double taxation agreement, meaning the same income is not taxed twice. The French tax service for foreign companies is the Service des impôts des Entreprises Etrangères (SIEE).
VAT
If you’re registered for VAT in the UK, it may be possible to zero-rate the goods you export to France, provided certain conditions are met.
VAT is known as Taxe sur la Valeur Ajoutée (TVA). French VAT rules are based on EU regulations and the standard French rate is 20%.
Advice can be sought from France’s tax authority – the Direction régionale des finances publiques.
Regulations
Packaging must conform to EU legislation on health risks to consumers and environmental protection. Labelling in French should be visible. Certain products such as foodstuffs and textiles have specific labelling requirements.
The Franco-British Chamber of Commerce & Industry is a good source of advice and information. It offers insight from members who themselves have set up a business in France or have specialist expertise in supporting that process.
Services regulations
See information on rules for selling services and business travel to France.
Trade barriers
You can check for any reported barriers to trading with France.
Report any trade barriers that are affecting your business so you can get help fixing them.
Routes to market
Having staff or local representatives with French language capability is necessary for long term success in this market.
Options which may work well for you are:
- agents and distributors using local agents or distributors with native fluency in French is an effective way to develop a presence in this market. France’s geographical size means you might need representatives in several regions to ensure national reach.
- direct sales due to the closeness of the market, a direct sales approach is possible. The need for French language skills is an important consideration in this option.
- e-commerce selling online or through e-marketplaces may be a good option for your company. It’s relatively cheap and easy to deliver products into France. The Department for Business and Trade (DBT) can suggest online marketplaces to help you get started. DBT’s E-Exporting Programme can also help.
The Franco British Chamber of Commerce is a useful source of further information on routes to market in France.
Intellectual property
Intellectual property (IP) rights are territorial and rights granted in the UK do not provide protection elsewhere. You should consider getting IP protection abroad if you want to trade overseas or sell to overseas customers via the internet.
The Intellectual Property Office provides practical information to help you protect, manage and enforce your IP abroad. Further support for British businesses can be found through a network of IP attachés, based in key UK export markets.
Payment terms
Your contract should specify terms for payment. If there's any dispute you will need to go through the French legal system for resolution. French customers may require credit to buy your products. Payment conditions must be factored into prices. For business-to-business transactions these can range from immediate payments on receipt of goods (often with a negotiated small discount) to a negotiated 60-day payment.
Business culture
Regular meetings and visits are important to build relationships. The market is competitive and a strong unique selling point is helpful. Speaking French can be an important step in building relationships.
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Support available for exporting to France
There are a range of support options available to help you export to France.
Developing exports to France could be a part of growing your business. But breaking into the market can be challenging. The right support and advice can significantly improve your prospects.
Invest NI offers a range of advice, plus additional support services for businesses trading with France.
- The selling outside Northern Ireland schemes includes support with market research and market visits.
- Invest NI sector specialists can help you assess the opportunities for your business and advise on the best way forward.
- Invest NI can advise on how to use technology to support your exports.
- Invest NI can advise on financing your export business and may be able to provide financial support directly to businesses.
As well as Invest NI, there are other sources of support to assist with trading with France.
- The Northern Ireland Chamber of Commerce (NICC) provides trade support services and networking opportunities.
- Department for Business and Trade (DBT) in-market support - eligible UK businesses can access trade expertise and knowledge on exporting to specific countries from the DBT global network of international market hubs.
- UK Tradeshow Programme - UK businesses exporting, or thinking about exporting, can apply for support to exhibit at, or attend, approved overseas trade shows and conferences; potentially receive grants to offset some costs.
- A freight forwarder can organise delivery and customs clearance, minimising the logistical problems you deal with directly.
- Your bank can advise you on the most appropriate form of financing and how to protect yourself against foreign exchange risks and non-payment.
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Taxes, duty and legal considerations when exporting to France
Advantages and challenges of exporting to France
Be aware of the advantages and challenges of doing business in France.
There are advantages and also potential challenges for Northern Ireland companies doing business in France.
With a population of over 65 million, a strong industrial base, and many large national businesses, France offers good export potential.
Advantages of exporting to France
France can offer numerous benefits to companies looking to do business in the region including:
- large consumer population
- highly developed transportation infrastructure
- diverse, skilled workforce
- spending on social services is the highest in the world
Challenges of exporting to France
You should also be aware of some challenges you could face when exporting to France including:
- language barriers
- high labour costs
- high business tax rates
- business entity establishment laws can be complex
Primary parentContent category
Source URL
/content/advantages-and-challenges-exporting-france
Links
Sectoral opportunities in France
There are a number of sectors that could potentially offer some opportunities to Northern Ireland companies.
Opportunities exist for UK companies across a wide range of sectors, including renewable energy, advanced manufacturing and technology.
There are a number of sectors that could potentially offer some opportunities to Northern Ireland companies.
France is developing its renewable energy capacity, including wind, solar and biogas, through the Government’s Multiannual Energy Programme. The country currently ranks third in EY’s Renewable Country Attractiveness Index (EY, 2019), behind China and the USA, with large projects expected in offshore wind including floating and solar power.
Advanced manufacturing
Advanced manufacturing in France is highly developed and contributes 14% to its GDP (DGE, 2018), particularly the aerospace and automotive sectors. France’s automotive manufacturing accounts for nearly 10% of global production (PWC,2018) and has a full vehicle and equipment supply chain. Its aerospace industry exports €55 billion of its annual outputs (Techniques de l'ingenieur, 2020).
Technology
France is a digital economy, with more than 10,000 start-ups. Technology accounts for more than 4.1% of the country's GDP (UNCTAD, 2019). The "French Tech" initiative brings together the most dynamic digital ecosystems throughout France. The government is focusing on promoting strategic sectors, with a technological component to emerge and develop.
Infrastructure and construction
With a 140 billion euro turnover (FFB, French Building Federation, 2019) and major projects underway, the dynamic construction sector offers growing opportunities. French contractors are open to innovation and interested in BIM (building information modelling) services and digital planning tools. There are also opportunities in clean growth and energy saving techniques, smart cities related goods and services and prefab and renovation expertise.
Retail
France is Europe’s second largest consumer base, with an affluent population. The French retail market is mature, sophisticated and its luxury sector is world-renowned. With high levels of household consumer confidence, it is important to consider factors such as quality and innovation to be attractive in a highly competitive market.
Primary parentContent category
Source URL
/content/sectoral-opportunities-france
Links
Taxes, duty and legal considerations when exporting to France
Find out about the numerous things you need to consider before you start exporting to France.
There are a lot of things to consider before you start exporting to France. It's essential to find out about local rules and regulations on tax and duty in your intended market.
Taxation
The UK and France have signed a double taxation agreement, meaning the same income is not taxed twice. The French tax service for foreign companies is the Service des impôts des Entreprises Etrangères (SIEE).
VAT
If you’re registered for VAT in the UK, it may be possible to zero-rate the goods you export to France, provided certain conditions are met.
VAT is known as Taxe sur la Valeur Ajoutée (TVA). French VAT rules are based on EU regulations and the standard French rate is 20%.
Advice can be sought from France’s tax authority – the Direction régionale des finances publiques.
Regulations
Packaging must conform to EU legislation on health risks to consumers and environmental protection. Labelling in French should be visible. Certain products such as foodstuffs and textiles have specific labelling requirements.
The Franco-British Chamber of Commerce & Industry is a good source of advice and information. It offers insight from members who themselves have set up a business in France or have specialist expertise in supporting that process.
Services regulations
See information on rules for selling services and business travel to France.
Trade barriers
You can check for any reported barriers to trading with France.
Report any trade barriers that are affecting your business so you can get help fixing them.
Routes to market
Having staff or local representatives with French language capability is necessary for long term success in this market.
Options which may work well for you are:
- agents and distributors using local agents or distributors with native fluency in French is an effective way to develop a presence in this market. France’s geographical size means you might need representatives in several regions to ensure national reach.
- direct sales due to the closeness of the market, a direct sales approach is possible. The need for French language skills is an important consideration in this option.
- e-commerce selling online or through e-marketplaces may be a good option for your company. It’s relatively cheap and easy to deliver products into France. The Department for Business and Trade (DBT) can suggest online marketplaces to help you get started. DBT’s E-Exporting Programme can also help.
The Franco British Chamber of Commerce is a useful source of further information on routes to market in France.
Intellectual property
Intellectual property (IP) rights are territorial and rights granted in the UK do not provide protection elsewhere. You should consider getting IP protection abroad if you want to trade overseas or sell to overseas customers via the internet.
The Intellectual Property Office provides practical information to help you protect, manage and enforce your IP abroad. Further support for British businesses can be found through a network of IP attachés, based in key UK export markets.
Payment terms
Your contract should specify terms for payment. If there's any dispute you will need to go through the French legal system for resolution. French customers may require credit to buy your products. Payment conditions must be factored into prices. For business-to-business transactions these can range from immediate payments on receipt of goods (often with a negotiated small discount) to a negotiated 60-day payment.
Business culture
Regular meetings and visits are important to build relationships. The market is competitive and a strong unique selling point is helpful. Speaking French can be an important step in building relationships.
Primary parentContent category
Source URL
/content/taxes-duty-and-legal-considerations-when-exporting-france
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Support available for exporting to France
There are a range of support options available to help you export to France.
Developing exports to France could be a part of growing your business. But breaking into the market can be challenging. The right support and advice can significantly improve your prospects.
Invest NI offers a range of advice, plus additional support services for businesses trading with France.
- The selling outside Northern Ireland schemes includes support with market research and market visits.
- Invest NI sector specialists can help you assess the opportunities for your business and advise on the best way forward.
- Invest NI can advise on how to use technology to support your exports.
- Invest NI can advise on financing your export business and may be able to provide financial support directly to businesses.
As well as Invest NI, there are other sources of support to assist with trading with France.
- The Northern Ireland Chamber of Commerce (NICC) provides trade support services and networking opportunities.
- Department for Business and Trade (DBT) in-market support - eligible UK businesses can access trade expertise and knowledge on exporting to specific countries from the DBT global network of international market hubs.
- UK Tradeshow Programme - UK businesses exporting, or thinking about exporting, can apply for support to exhibit at, or attend, approved overseas trade shows and conferences; potentially receive grants to offset some costs.
- A freight forwarder can organise delivery and customs clearance, minimising the logistical problems you deal with directly.
- Your bank can advise you on the most appropriate form of financing and how to protect yourself against foreign exchange risks and non-payment.
Primary parentContent category
Source URL
/content/support-available-exporting-france
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