More Businesses are Looking to New Markets

10/08/2009

Yorkshire Forward is stepping up activity to encourage more regional companies to export through the recession, and develop new markets, following recent survey findings which demonstrate increasing confidence amongst the region’s exporters.

Forty four per cent of firms said they were benefiting from exporting with a level of growth that would otherwise not have been possible, with sixty per cent confident that overseas sales will be higher in a year’s time.

The findings come from a national UKTI survey, the ‘Performance, Impact and Measurement Survey’ compiled by OMB Research which was conducted between July 08 to the end of June this year and demonstrates that exporting is a viable option for the region’s businesses to be competitive and profitable in the current economic climate.

Theresa Lindsay, Assistant Director of Business at Yorkshire Forward commented; “It’s encouraging to see that more of our region’s businesses are looking towards International trade as a viable way to not only ride out the recession, but to grow their businesses in the long term.

“We are determined to help as many companies as possible to export and have invested over £6.6 million in our Targeted Export Support Scheme to minimise the risk for businesses entering new markets and I’d urge all businesses who are considering exporting to take advantage of the help available”.

Yorkshire Forward’s Targeted Export Support Scheme (TESS) helps offset up to 50 per cent of the costs of export activity from trade missions, exhibitions and market research, to market focused publicity materials, web development, and translation costs.

Last year alone, TESS supported 535 companies creating and safeguarding over 400 jobs, and generating a total of £28.2 million on export increase turnover.  One company which benefited from TESS is Sheffield based Swann Morton, a world leader in the manufacture of surgical scalpels, blades and handles, who worked with UKTI to ensure it was ahead of the competition overseas.

Swann Morton overcame the barriers of entering new global markets with TESS and the use of other UKTI services, and as a result generated significant revenue in China and up to January 2009, export sales had increased by £657,458, and one full time job had been created.

TESS also funds targeted marketing campaigns aimed at helping companies across the region become more aware of the opportunities offered by international trade.

The program targets primarily key industry sectors such as Healthcare, Pharmaceuticals, Digital and New Media, Food and Drink, Environmental Technologies, and Advanced Engineering and Materials, although other sectors will also be considered based on their impact .

Businesses interested in benefiting from this scheme should contact the TESS Team on 08456 048 048.

ENDS

Notes to editors:

Yorkshire Forward

Yorkshire Forward is the Regional Development Agency behind the economic regeneration of Yorkshire and Humber. It aims to make a positive difference by investing in jobs, improving towns and cities, and in supporting businesses throughout the region.
Yorkshire Forward’s investment across the region is maximised by attracting European Regional Development Funding.
For further information, images or to arrange an interview, please contact Laura Scholey, Press Manager on 0113 3949540 or email laura.scholey@yorkshire-forward.com