Trade figures released this morning showed that the UK's trade in goods deficit was unchanged between February and March.

The world is constantly changing. This is perhaps an obvious statement. The question is therefore not whether change exists but the pace at which it occurs and, crucially, whether we are able to embrace it.

So, take two very British 'brands', Weetabix and snooker. Anyone who grew up in in Britain in the 1970s and, especially, the 1980s will probably have been exposed to both.

The announcement last week that a majority stake in the makers of Weetabix has been sold to Bright Food, China's second largest food company will probably come as no great shock. It is part of a growing trend for cash-rich Chinese companies to buy western brands.

The Prime Minister has issued a national challenge:

• to double exports to £1 trillion by 2020;
• to remove the trade deficit by 2020;
• to increase the number of firms exporting by 100,000 by 2020;
• to raise the number of SMEs exporting from the current level of one in
five, to the European average of one in four, by 2020.

So can we meet that challenge?

I'm often asked by companies for advice on how to tackle a new market and among the many routes to market, Licensing is definitely worth considering.

Licensing is essentially the granting of a 'Right' by the owner of the intellectual property to another business or individual to do something that, without that permission, would infringe the owner's Intellectual Property Right.

It's particularly useful for those who recognise the value in their intellectual property (IP) be it inventions, trademarks, industrial or even architectural designs. Or creative products such as music, art or film. These can all provide income for a company by giving others permission to use its IP in return for a royalty payment.

Today's business world is fast changing and many companies that seek new markets for their products face constraints within their own organisations - such as lack of skill sets or resources to meet market opportunities, little local knowledge of these markets, shortage of capital to invest in the venture, or simply not enough time in the day!

Licensing is relatively quick to set up and can generate rapid revenue streams - all with the added attraction that it is a relatively 'hands off' solution.

There are all sorts of licensing arrangements depending on who you want to use your IP and where.

Today's unemployment figures give us all cause for concern and there is certainly little to be currently optimistic about.

For those of us who have been around for a while and can remember the 1970s we know that even in the bleakest of times there is always hope of change.
The trouble is, there is a great deal to fear.

Our economy is 'flat-lining' and the historically low period of phenomenally low interest rates has simply kept things from getting worse.

We can only hope that events in Greece do not lead to another spectacular crisis of finance which will impact on all of us and, of course, make recovery even harder.

So, what can realistically be done to create the success our economy desperately needs to achieve an export-led recovery?

New car registrations in the UK fell by 4.4% in 2011 to 1.94 million unts, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT).

The market was affected partiucarly by private registrations, down 14.1% for the year while fleet sales rose 4.7% for the period. Sales in December fell by 3.7%, the 10th monthly year-on-year decline of 2011.

The Ford Fiesta was the best selling new car in 2011, with the VW Golf the best selling diesel model. The Super Mini segment remains the largest in the UK, with its market share unchanged on 2010 at just over one-third of the market. The Executive, Luxury Saloon and Dual Purpose segments all recorded growth in registrations in 2011.

The fall in registrations comes as no surprise given a flatlining economy and austerity in the UK. With consumer confidence dented, people are less willing to spend money on big ticket items like cars.

Nissan's Sunderland plant has just recorded its busiest year ever, with some over 480,000 units manufactured, of which over 80% were exported. It was a remarkable success story. Output was up from 423,262 in 2010 (the previous record year) and 338,150 units in 2009.

If I've got my historical analysis correct, this is the biggest output by any single plant in the history of the UK car industry. Not surprisingly, the plant has become hugely important for the UK industry: over 1-in-3 cars produced in the UK in 2011 came from the plant, and it has been the biggest producer since 1998.

Nissan was the first Japanese car manufacturer to set up assmbly operations in the UK when it arrived in 1986. It now employs almost 5,500 staff and is currently developing a new battery production factory at the site.

Jaguar Land Rover's quest to find a Chinese partner has taken a step closer after it emerged that the firm has formally applied to the country's National Development and Reform Commission to set up a joint venture (JV).

JLR is now waiting for a response from the Commission, but that hasn't stopped JLR shifting some key staff over to China in preparation for the setting up of production. According to recent Chinese media reports, JLR has most likely chosen the firm Chery as a partner in the joint venture. If you haven't heard of it, Chery is the seventh largest Chinese car maker, selling some 700,000 units in 2010.

This week Kraft boss Irene Rosenfeld visited the Mumbai HQ of Cadbury Kraft India. She was especially upbeat: "in India, in particular we have witnessed exceptional growth. Year-to-date we are up almost 40 percent in this country."

"The growth rates that we have seen have been well in excess of what Cadbury had been generating primarily because we have chosen to invest in a lot of critical areas such as sales, marketing..." Rosenfeld added.

"I think the success of what we are having in India is indicative of the power of combination of the legacy of Kraft and the legacy of Cadbury... Snacking is a growing behaviour around the world... India will be a key part of our overall growth, since there is so much untapped opportunity in our core products here."

This was the message from both the Prime Minister and the Trade Minister Lord Green at a major Summit on exporting held in London last week.
Launching 'Exporting for Growth' in the UK, PM David Cameron, HSBC Chief Executive Brian Robertson and PWC Chair Ian Powell all spoke extremely supportively of boosting the UK's export platform. Nick Baird, UK Trade & Investment's Chief Executive launched some new initiatives including teaming up with founding Dragons' Den panellist Doug Richard and Yell to get 3,500 businesses into workshops all over the country to ensure they are able to exploit the global opportunities offered by the internet.

The PM's message was clear - we need to excel in trade if we are to grow the UK economy at a time when global economies are under huge pressures. The challenge is to get more SME's exporting and to do so, there needs to be greater engagement between the public and private sectors in supporting and developing our exporters.

Here in the West Midlands we have a proud history of international trade. Many of our companies are already doing well in international markets with innovative, cutting edge products - but we need our existing exporters to export more; and more companies to start exporting.

At the Summit there were over 400 representatives from intermediary organisations - banks, lawyers, accountants, consultants, trade associations, Chambers of Commerce, etc discussing how we can do this.

Nationally a number of promising initiatives are already underway such as:
- HSBC has introduced a Business Thinking programme including support for Trade Missions and Mentoring for SME exporters working with UK Trade & Investment.
- Barclays is working with UK Trade & Investment, utilising their customer base and expertise in Sub Saharan Africa to promote exports.
- Lloyds is launching a programme of Export Mentors working with the Manufacturing Technologies Association and UK Trade & Investment.

But this sort of cooperation should not be limited to the "big boys" in London. There is much we can do at the local level. Here in the West Midlands we will be holding our own Exporting for Growth Summit on 28th February for regional SMEs and intermediaries.

In the meantime if anybody has any thoughts or ideas on how UK Trade & Investment in the West Midlands might work more with local partners to help exporters I would be delighted to hear from them!

If you'd like more details of the announcements made at the Exporting for Growth Summit last week, have a look at the website: http://www.ukti.gov.uk/pt_pt/uktihome/media/item/217400.html