Quarterly Meeting
Wednesday, 30 April 2014 at 3.00pm-4.30pm
at Novus Centre, The Conge, Great Yarmouth, Norfolk
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Panel Members Present:
Mark Gaskins, Lawtronic Ltd (MG) (Chair)
Tracey Howard, Norfolk Chamber (TH)
Leszek Wysocki, UKTI East (LW)
Peter Sturman, HSBC (PS)
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MEETING NOTES
MG opened the meeting by welcoming everyone and gave a brief explanation of how NITAG was
created, for those who have not attended previous meetings. MG explained the topic of the
meeting was Market Information.
The panel members introduced themselves individually and explained how they can assist exporters.
The delegates then repeated the process but also advised what they were hoping to achieve by
attending the meeting.
The core areas discussed were:
Lack of market information and finding opportunities
LW explained that UKTI held an event each year in Duxford where Commercial Officers of overseas
markets are invited and businesses can make appointments to see them to discuss opportunities.
It is easy to assume that gathering market information is easy – it is not – reports can be produced
and then decisions can be made as to whether the market is right for a particular product.
It was explained that UKTI Trade Missions are very useful when deciding if a market is suitable.
Westcotec explained that they took at stand at a trade show in New Zealand and they made a
number of contacts. They found that the market was not ready for their product at that time, but
now that a few years have passed, one of their team is going back to New Zealand to see if they can
move forward with contacts they have.
MG explained about trying to get into Brazil as they thought it would be a good market. A desk
report was obtained first and then some workshops were attended but after 18 month it was
decided that it was not the right market for the goods.
UKTI scheme OMIS is a very good scheme to decide whether it is worth going to a market. These can
be as completely bespoke as your need them. A UKTI advisor will be able to guide anyone interested
in the different services.
Can’t find suitable customers/agents/distributors
PS explained that businesses need to be specific about what is needed. HSBC can help if the enquiry
is detailed as they can then go to their overseas contacts.
Quarterly Meeting
Wednesday, 30 April 2014 at 3.00pm-4.30pm
at Novus Centre, The Conge, Great Yarmouth, Norfolk
Bradley Rowley explained what the Overseas Business Network is and how the British Business
Centres in over 40 countries, can help SME’s access the markets in the network. A new website
called Export Britain has been created by the British Chambers of Commerce which provides a great
deal of information on the support services available: www.exportbritain.org.uk
LW explained that another website which is very useful is Open to Export: www.opentoexport.com
Language/cultural differences with overseas markets
It is important to understand all of the cultural issues for each country before diving straight in. One
of the delegates gave a really good explanation of how they were trying to open up in the USA. They
kept referring to “The States” but what they should have done is look at every individual State as a
whole as they all differ. You should look on the USA in the same way as Europe – depicting each
state like each European County – they all have their own rules and regulations.
Other discussions
Getting Funding against a Letter of Credit!
One of the delegates asked for help with Letter of Credit query. He has received an LC which has
been confirmed by HSBC but having difficulty getting funding against it. Their bank (RBS) does not
seem to want to use UK Export Finance. PS explained that funding against an L/C does depend on
the strength of a business and from the information to hand it should not be a problem. Suggest
that RBS is contacted and asked why they do not want to use UKEF as this is a fantastic facility and
also why they are delaying agreement to funds.
TH suggested they contact the local UK Export Finance advisor Dan Hewitt on 07580 745923 or at
dan.hewitt@ukef.gsi.gov.uk
Money Laundering!
PS advised that money laundering is a huge problem and businesses do need to provide evidence
where money is coming from.
MG had to leave the meeting at 4.15pm.
TH then asked if anyone has any further questions they wished to ask the panel but there was none.
TH closed the meeting and thanked everyone for attending.
Future Dates:
Date:
Venue:
Theme:
Wednesday, 23 July 2014. 3.00pm – 4.30pm
College of West Anglia, Tennyson Avenue, King's Lynn, Norfolk PE30 2QW
Where do I start?
To attend either or both of the above meetings, please email: tracey.howard@norfolkchamber.co.uk