Last week, Bristol SMEs were invited to attend an ‘America Made Easy’ business workshop hosted by Newable, in association with Business West, the delivery partner for the Department for International Trade (DIT) in the South West.
The workshop provided insights into what it takes for SMEs to ‘land and expand’ their business in the US – the UK’s number one export market.
Led by Business West, which helps businesses in the South West go further faster, and Newable, a leading provider of money, advice and space to SMEs, the workshop provided an in-depth look at different areas – from current trends and sector opportunities, navigating the US market and its State differences, through to finance, legal, new business, marketing, PR and HR functions.
Attendees heard from experts on various topics with speakers including Newable’s own consultants, UK businesses that have already found success in America, and International Trade Advisors (ITAs) from DIT.
HMRC figures show that exports from the South West of England generated nearly £21.5bn of income for the UK in 2018, while a total of £3.8bn of goods were exported to the US, accounting for 17.5% of overall South West exports.
The event was part of Newable’s recently launched America Made Easy programme, an innovative partnership with leading American business services firm Avitus Group. The service, which has been designed to offer a flexible, turnkey solution to US expansion, will provide all the advantages of expanding into the US market without any of the regulatory or administrative responsibility, or long-term risk, with a single monthly fee allowing clear forecasting.
Business West and Newable are no strangers to facilitating successful overseas trade. As leading delivery partners for DIT, in 2018 they supported a total of over 13,000 U.K businesses with their export drives generating more than £3bn of new business.
Chris Manson, Chief Executive Officer of Newable, commented: “It was great to see so many local businesses in the room. Bristol’s reputation as a leading regional business destination continues to gather pace and the growth of its SME community has been a crucial part of that, one that is expected to be contributing £5bn to the UK economy by 2025.
“There are some exciting businesses with big growth potential coming out of the region and there is a huge appetite for these companies in the U.S. However, while there are significant opportunities over the pond, there is a complex web of nuances in terms of laws, regulations and processes across its 50 states, which can be a minefield without the correct guidance and counsel.
“Following years of successful exporting with DIT, our America Made Easy programme is a natural extension – allowing SMEs to focus on the thing that matters most – running their business. The unique co-employment model with Avitus means that we will take on the heavy lifting and responsibility, allowing these growing businesses to thrive.”
Phil Smith, Managing Director of Business West, commented: “The demand for British-made goods in North America is growing at a rapid pace and it’s encouraging to see South West businesses tapping into this growing trend. Research shows that companies who export are more successful, profitable and resilient. That’s why we have a team of 90 international trade specialists based across the South West to help firms with the full spectrum of export advice from identifying overseas markets right through to helping them get paid.
“Our collaboration with Newable is a great example of pooling expertise and resources to provide the very best insight and guidance local businesses require when growing their business.”