Grow your business internationally with free expert advice at International Trade Week
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
If you are interested in expanding your business, register for ITW events.
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