Lancashire companies must not fall into exports trap, says BIBAs sponsor

More Lancashire businesses need to explore opportunities for exports, a BIBAs sponsor says, following a report by the Global Britain Commission that claims supercharged exports could lift the UK economy by £500bn.

By Tim Gavell
Tuesday, 1st March 2022, 4:55 am

The Global Britain Commission, established by former trade minister Dr Liam Fox, has recently set out a blueprint for increasing international trade.

It says that the value of UK goods and services exported in 2020 amounted to around £8,597 per capita, and that if this could be increased to match Germany’s per capita exports of £15,645, it would bring in an extra £474bn.

In addition, it argues that doing so would create 11.6 new jobs for every £1m of extra exports.

The BIBAs awards ceremony

Mick Mayor, managing director of Team Leyland International, said that growing demand for British products and services could provide major growth opportunities for Lancashire businesses.

He said: “Lots of businesses fall into the trap of restricting their sales to just the UK market, ignoring the enormous opportunities that exist in other parts of the world.

“Exporting to overseas markets can help expand your business, but it can also make it more resilient too, enabling you to weather economic storms in your home market by selling more abroad.

“Lancashire already has a number of businesses that are recognised as export leaders, but I’d like to see more firms consider it as a way of fuelling their growth.”

Team Leyland International is the UK’s premier vehicle and spare parts exporting operation, supplying products to more than 70 countries.

It is also the sponsor of this year’s Global Business of the Year category in the Be Inspired Business Awards, or BIBAs.

Explaining what the judges will be looking out for, Mick Mayor said: “We want to see evidence of businesses successfully exporting for the first time, or existing exporters expanding into new and emerging overseas markets, and how that’s improved their financial performance and created employment opportunities here in the county.

“It’s fair to say that Brexit and then Covid have both thrown up some challenges for exporters in the last year, so we’ll be eager to understand how applicants have navigated these too, and still managed to boost their fortunes on the international stage.”

To enter visit: www.thebibas.co.uk

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