Oddly enough, gazelles seem an appropriate symbol for regional exporters at the moment, now the new financial year is in full swing: latest statistics show that our region is still falling behind other parts of the country by having the lowest increase in exports for 2010 (a 3.1% rise compared to the same period in the previous year). So firms need to spring into action and quicken the chase for new business, rather than falling behind the pack!
While these latest figures are disappointing, there are signs of improvement with so many good examples of regional firms flourishing at the moment.
One firm doing particularly well is NSC Creative, based at the National Space Centre in Leicester. It produces fulldome films, which literally immerse you in the film experience and are used in places like planetariums. It is great example of the sort of innovative and creative work which this region excels at and other countries want to buy into.
The firm is proving how lucrative exporting can be: its overseas sales increased by 50 per cent in 2010 and now accounts for more than half of all orders. Staff numbers have also doubled from six to 12 on the back of this overseas success, after taking part on UKTI’s Passport to Export programme.
Interestingly, NSC Creative has been commissioned to do a fulldome film to form part of the new Children’s Museum in Cairo. Despite the recent unrest, the museum will be opening later this year.
In fact, the company is winning orders all over the world, in places ranging from Hong Kong to New Delhi, and with a team of 12, it’s proving that you don’t have to be a big business to go global. Around 90% of local companies UKTI helps to export are SMEs. And if a company can sell a product in the UK, it can be sold anywhere by adapting it to suit the market.
There are so many opportunities for local firms in emerging high-growth markets – CIVETS or gazelles - thanks to their rapidly-expanding consumer bases. These burgeoning economies have weathered the recession better than established countries. BRIC countries are only the start: the newer CIVETS are hot on their heels and on a rapid growth trajectory which local firms can tap into. It simply makes good business sense to export. Firms that do are proved to be more innovative, productive, profitable and resilient.
And exporting needn’t be daunting. UKTI advisers and services can help any business prepare to do business overseas by finding the right market and making the right contacts. Contact your local UKTI representative on 0845 052 4001.

Bribery in business

During the recent East Midlands-led market visit to India, there was much discussion among delegates about the new Bribery Act, which comes into force on July 1 this year and how it may affect them. Obviously, bribery has no place in East Midlands and UK business, so the Act is an important reminder that it’s a criminal offence to give, promise or offer a bribe and to request, agree to receive or accept a bribe either at home or abroad.
An event by our partners, Emita (East Midlands International Trade Association) is planned on Tuesday 17 May at Holywell Park, University of Loughboough, to go through some of the scenarios firms may find themselves in when dealing with overseas business and ensuring they don’t inadvertently get accused of bribery. You can book a place on the Emita website. In the meantime, new guidance has recently been published to explain how the law has been updated and how business can avoid possible imprisonment and an unlimited fine if it can show that it has adequate procedures in place to prevent bribery.