Tom Turner, Business Development Director at V12 Footwear recently met with the BBC to discuss how Brexit has affected our business. In light of the First Brexit Summit for EU leaders today, we thought it was a good opportunity to share the interview and explain how V12 Footwear has embraced the challenges of Brexit and adapted our strategy to ensure sustainable business well into the future.
Time has flown since 23 June 2016, Referendum day, and now here we are at the first Brexit Summit.
I’ve spoken with many businesses, and there are those for Brexit, those against and many who are just indifferent as to what is going on. I especially feel sympathy for those who, through no fault of their own, have been affected by the dramatic drop in the pound. But I want to focus on the small group of business who are using the challenge of Brexit as an opportunity to expand their horizons.
Whether you think Brexit is good, bad or indifferent for your company, it isn't the time to be complacent and wait for favourable trade agreements to be struck. No business is ever totally risk free, and currently we are in one of the fastest changing market places the world has ever known. In order to have a sustainable business, we need to adapt to market trends - and there are fantastic opportunities to be had. This is why, as well as maintaining and growing our important domestic market, V12 Footwear is looking for an increased growth in export business this year.
Currently UK trade levels with advanced economies such as the EU and US are under pressure. Exporting to the Middle East, South East Asia and South America offers immense potential for British companies to find new customers. The demand for “Brand Britain” seems to resonate strongly in these fast growth markets, especially if they are high quality innovative British brands. This has stood V12 Footwear in good stead when launching into the Middle East and Caribbean Markets.
When considering a move like exporting to a new market, any business would have to carry out significant research to ensure a return on time and capital investment. At V12, we have found great value in learning from national projects such as UKTI and Export 4 Growth, and more local groups such as Business West, and would urge other companies to do the same. These groups all have a deep understanding of moving into export markets, and hold exhibitions, advice forums and webinars to give excellent help and support.
At V12 Footwear we have seen this as an opportunity to expand our horizons and business, and we have enjoyed an increase in trade to countries such as Trinidad, Dubai, Saudi Arabia, Singapore, Malaysia, Nigeria and Ghana to name but a few. So whether you are already exporting as a business or looking to increase trade abroad, I wish you all the best in your endeavours.
You can watch the full BBC interview below or at this link.