Plenty of opportunity to trade, a market for everyone and support to get you there
Hello, it's a pleasure to be here in the West Midlands to lead our UK Trade and Investment team and help support companies in the region to internationalise. We're here to help and want to increase the support we give to companies to help them explore new markets and grow their exports in their current markets.
In the Autumn Statement, UKTI was given an increase in budget of £70 million per year. For the West Midlands, this means an additional seven people in the region supporting business from April, and a significant increase in the size and flexibility of the financial support we can give to exporters.
There is plenty of opportunity to trade, a market for everyone and support to get you there.
However, there's no doubt we face an enormous economic challenge. We've run a trade deficit nearly every year for the last 50 years and only one in five of our companies export, when the European average is one in four. We've got to shift the economy from one that's built on debt, to one that's built on trading and selling our goods overseas. There isn't another option.
In the West Midlands, our goal is to double exports from around £20 billions in 2012, to £40 billions by 2020. If we achieve these demanding targets, we will rebalance our economy and see growth driven by exports, jobs and innovation generated by companies challenged by the rigours of international trade.
I'm confident that the region is up to this challenge. Jaguar Land Rover, Carillion and JCB are brilliant companies, leading the way and breaking into new markets, including China.
A big part of my role will be to get the whole supply chain for these innovative companies to look at where they too can find new markets. West Midlands firms are exporting more to China than any other UK region. In the first nine months of last year, we exceeded the whole of the previous year's exports to China.
While our traditional markets such as Europe and the US have struggled as they, like us, have had to contend with reduced public spending and lack of credit to drive their economies, they still remain important to our export performance.
Further afield, I have seen first hand how UK companies can be successful in the more developed markets such as Australasia. I spent the last four years heading-up our teams in Australia and New Zealand where UK companies of all sizes are winning business and competing with the best international firms. There is plenty of demand for our goods and services out there.
There are also the opportunities provided by countries such as India, China, Brazil, and other fast growing markets such as Russia, Thailand and South Africa. These markets can be more challenging and companies often require additional support to understand the cultural and business environment. Language too can be seen as a barrier to trading with these countries, but there is support available to help companies overcome these difficulties.
We will continue to work hard to secure bigger slices of bigger contracts around the world for UK companies through our High Value Opportunities programme. I worked on one of these opportunities in Australia where the value of contracts to extract gas from Northern Australia are truly enormous and should be accessible to a wide range of companies in the oil and gas sector, but also in IT, catering, legal, finance, health and safety, general engineering and many others.
We will also need to reach into areas of the economy that we have not traditionally worked closely with. This includes getting more medium sized businesses exporting. These businesses are at the heart of our economy and often require different forms of support to grow internationally. We have recently recruited staff to focus on this sector of business and, with the help of partners we are working hard to ensure we can deliver the support they need, when they need it, and in the way that has most impact for their business.
We can support firms of all shapes and sizes - whether they make things or deliver services. We will develop services for those companies who export through the internet, helping them to export more strategically. Leading the way for this type of business is success story Bean2Bed which makes world-class products in the West Midlands and sells them across the globe. One of the company's directors happens to be my next door neighbour so I don't need to go very far to get feedback on the support we give to companies like this.
I would welcome a dialogue with the business community to find out how we can help you be more successful overseas. We need to hear from you so we can ensure we remain focussed on the needs of business.
Challenge me, and UKTI to deliver what you need to grow. I have set up a discussion on the LinkedIn group below. I would really like to hear from you.
Paul Noon, OBE, took up the role of West Midlands International Trade Director at UK Trade & Investment in December 2012. Paul's most recent post was in Sydney, Australia, where he was Director of Trade for Australia and New Zealand for four years. There Paul worked with hundreds of companies, many from the West Midlands, to support them to grow their export businesses in Australasia. He also supported Australian companies to invest in the UK.
Sydney was Paul's fifth overseas posting after Damascus, Syria; Bonn, Germany; Wellington, New Zealand and Kinshasa, Democratic Republic of the Congo. He has also worked in several departments of the Foreign Office in London.