Companies across Manchester are being encouraged to tap into £27m worth of international trade to help expand their business and contribute to the growth of the local economy, or risk falling behind their local and national competitors and exiting the market completely.
In the year to December 2013 exports from the North West declined to £27m from £30m in 2012, and the region is under pressure of falling further behind the rest of the UK regions as they increase their output year on year. The number of active exporters also fell -1.6% (2012-2013). The International Trade Expo, which takes place 10th and 11th June in Liverpool, is encouraging companies from across the city to expand their portfolio and consider the added revenues that can be generated through launching or diversifying into carrying out international business.
Public procurement demand from 12 key emerging markets including China, Indonesia and Turkey for businesses in the UK is set to be worth £110 billion in 2030* and the North West Economy is set to lose out on its share if business owners do not extend their customer market portfolio.
Nick James from International Trade Expo said: "Manchester has rich heritage in exports dating back hundreds of years. The fact that the value of exports and the number of businesses exporting is falling is one that has to be arrested. Companies need to look further afield than their domestic market and eye up international trade if they are to expand at a successful rate.