Iseabail
Mactaggart, Deputy Director at the Department for Business and Trade (DBT)
Scotland, talks about Scotland’s exporting strengths and highlights how the
activities at the upcoming International Trade Week (ITW) can help businesses
from Scotland expand into global markets.
Why export from Scotland?
Scotland has an incredibly rich business landscape. It is at the forefront of advancements in innovative sectors including
energy, life sciences, AI, photonics aerospace and financial technology, with
products and services from these industries already sold around the world.
Scottish produce in food and drink are
internationally recognised and are synonymous with top quality. Scotch
whisky and Scottish salmon lead exports for the UK, with Scottish drink and fish
exports each making up around 60% of total UK drink and fish exports.[1]
However, Scotland is more than its traditional
image. It is one of Europe’s leading financial centres and the second largest
international financial hub outside of London, managing £490 billion in assets
(at the end of 2023)[2]. In 2021 Scotland had around 10,395 digital
technology businesses, representing 5.8% of the Scottish economy. There were
83,500 people employed in the sector[3]. Furthermore, Scotland’s
life sciences sector supports more than 38,000 FTE jobs, contributing £3.4
billion in Gross Value Added (GVA) to the economy in 2018.[4]
Scotland is the hub for the UK’s energy transition
and the home of Great British Energy. Glasgow is the largest manufacturer of
cube-satellites in Europe – Scottish goods and services literally orbit the
world!
Why sell Scottish products and services abroad?
Scottish goods and services are in demand around
the world. Expanding into overseas markets presents opportunities for
businesses – increased revenue being one. At International Trade Week this
year, businesses can access services, resources, expert advice and support to
help them grow sales internationally.
What is International Trade Week?
Taking place from Monday
11 to Friday 14 November 2024, International Trade Week is
a week-long programme of events led by the Department for Business and Trade
(DBT), in partnership with industry. The week will feature a variety of
free activities and events for businesses across the UK to help them grow their
international sales and access new markets.
Whether you’re looking to
secure your first international contract or expand your existing
international sales, ITW will have an event for you. ITW will show you the
importance and benefits of selling internationally and allow you to connect
with experts in international trade.
Who’s
involved?
DBT is delighted to be
partnering with Santander UK to deliver ITW 2024.
John Carroll, Head of International and
Transactional Banking, Santander UK, said: “It’s an exciting time to be a UK business looking to expand globally,
but it’s not without its challenges. Our research shows that businesses are
calling out for more support from government and the private sector, and we’re
pleased to be working with DBT to play our part in helping businesses turn
their international dreams into a reality.
“Through our digital
international trade platform, Santander Navigator, we’ve already helped over
1,500 grow internationally and joining forces with DBT and promoting international
trade through the well-established ITW platform will support even more UK
businesses in taking their next step.”
How can you benefit from ITW 2024?
There are many reasons to come to ITW.
ITW will:
· develop your exporting knowledge and skills
· showcase the wide-ranging support available from DBT and its partners
· highlight global opportunities and how to seize them
· explain the benefits of trade deals the UK has signed
· hear from and speak with experts in international trade
This post was originally published on here
