Event Information
UK manufacturers’ product sales have fallen sharply in the last 3 years, companies have been hit hard over recent decades, suffering from skills shortages, import substitutions, supply chain issues, and more latterly Brexit, COVID, and rising costs of raw materials.
However, the fact remains that there is significant demand for UK manufactured goods overseas, and this important sector could be key to achieving the Government’s levelling up agenda and pivotal to the country’s green transition.
Global trade can be seen as too risky, too complex, too costly, but the truth is, any company serious about innovation and growth will have to explore overseas markets at some point as their domestic market matures and revenues plateau. Furthermore, risk, complexity, and cost are significantly reduced, and revenue opportunities substantially increased with a little knowledge, outside expertise, and hands-on support.
Why not join Business Lincolnshire, Global Trade Department, and a small group of industry peers for this morning workshop where we will be exploring everything and more that a UK manufacturing must know to successfully trade globally in 2024 and beyond.
Who should attend:
Delegates from any UK manufacturing sector; this workshop will be particularly of value to directors, senior managers, or staff involved in overseas procurement, sales, or business development.
Agenda:
- 09.30-09.40 – Welcome and introductions
- 09.40-10.00 – How trading internationally can help address challenges facing UK manufacturing firms.
- 10.00-10.20 – Finding global opportunities and assessing routes to market.
- 10.20-10.40 – Building resilience and security into supply chains.
- 10.40-11.00 – Understanding, complying with, and benefitting from UK free trade agreements.
- 11.00-11.10 – COMFORT BREAK
- 11.10-11.30 – Using customs special procedures to reduce trading costs, administration, and complexity.
- 11.30-11.45 – Avoiding trading issues and ensuring HMRC and overseas customs compliance.
- 11.45-12.00 – Understanding the impact of current and future global sustainability regulation.
- 12.00-12.20 – Financing international trade and mitigating risk.
- 12.20-12.30 – Discussions and close
Learning outcomes:
- How to strategically plan for international trade – the ‘dos’ and the ‘do nots’.
- How to successfully develop overseas opportunities and nurture partner relationships.
- An understanding of the pros and cons of different routes to market, considering legalities, tax, regulation, and other implications.
- How to mitigate against supply chain disruption, including emerging markets offering alternative supply.
- An understanding of how UK free trade agreements work including product origin calculation, preference, and proof of origin.
- How to qualify for and use HMRC authorisations to cut costs and red tape in global trade.
- Overview of essential customs compliance to avoid delays at ports, unnecessary returned goods, customs penalties, and more.
- Overview of existing and planned sustainability regulation impacting UK exports, imports, and manufacturing practice.
- An appreciation of the risks involved in both import and export and importantly how these can be mitigated.
- An appreciation of Incoterms and their role in global trade, together with the various ways of financing trade, and methods available to ensure ‘payment’.
Deliverables:
Workshop attendees will be urged to consider and apply their learning to their own businesses throughout the morning. To aide this, workshop material will be issued in advance of the session and presentations of each module issued on completion of the workshop.
Follow on support:
There is 1:1 follow on support available for Lincolnshire businesses attending this workshop. Whether you have simple questions or complex challenges and objectives, you may be entitled to between 2 and 30 hours of fully funded specialist support to help bolster your international trade activity. There are also fully funded Trade Compliance Audits and Sustainable Trade Planning sessions available for companies concerned with HMRC compliance and overseas sustainability regulation.
