Speaking literally, have you seen the latest research by the Chamber of Commerce? It suggests that Chamber members believe the economy will struggle during the first half of 2012, but we’re not in for a double-dip recession. Well, thank goodness for that at least! During a piece on BBC Breakfast, a Chamber spokesman said that in the longer term, it would be those who exported – especially outside the EU – who would stand the best chance of success. The presenter asked, in that case, what of those businesses which couldn’t export? He came back with an explanation as to how to get into overseas markets – by using the Chamber (of course!) and UKTI (UK Trade and Investment) etc.

Now, I’ve used UKTI myself – very successfully. I was lucky enough to be part of a trade mission to the US in 2007 in which they were involved. So I’m all for them getting a plug – but I don’t think that was actually what the interviewer was asking. My guess (and I may be wrong here) is that she was in fact trying to find out what the prognosis might be for a business whose products or services just didn’t travel.

That got me thinking: how many of those are there? My first thought was that I’m running one of them – or rather, that where our products and services might travel to (other English-speaking countries – like America) wouldn’t help us much in terms of growth, because they’re at least as far along Sheisser Strasse as we are in the UK!

Then I thought again … Australia! They speak English, they have a thriving business population, they’re close to growing Asian markets – and they haven’t seen a recession – and I happen to have connections already working there!

So I’m off to Oz in the morning – BYE!!!

No, just kidding –I’ve got to sit down and plan our strategy etc before I can even start thinking about a visit.

That brings me on to the metaphorical part of my question. Business coaches are always telling us we need to set goals; we need to know where we’re going; but realized last year that the most important question when it comes to objectives of any kind isn’t ‘What?’ but ‘How?’

During last week’s radio show, I threw that around with Vicky Kelly of Butterfly Effect Coaching. We talked about ‘the pain train’ – or at least, the pain station and trying to get away from it. It was 4th January, so it was a fair bet that some listeners had already broken at least one new year’s resolution. So how, I wanted to know, could they salvage that situation – rather than beating themselves up about it for the rest of the year?

Vicky’s answer was: ‘Celebrity magazines’.

No, ok, that’s not quite true. Her real answer was: incentives. ‘When we’re at the pain station,’ she said, ‘we can’t wait to get away from it – so we work like crazy to move. Once we’ve covered some distance, we’re far enough away from the pain for it not to hurt any more – but we’re still a long way from the pleasure station’ (no, that’s not a dodgy club in London – although maybe it’s a business opportunity for someone …!).

The answer is to break the journey down into smaller sections, with incentives scattered along the way. No, the celeb magazines aren’t my idea of an incentive either – but they work for Vicky (as guilty pleasures so often do).

I’m still working on my own equivalent guilty pleasure … possibly playing with lego …

So now I need to plan my strategic route to Australia … how can I work lego into that I wonder …?

Where are you heading this year (or over the next few years), physically or metaphorically, how are you planning to get there – and how will you keep yourself motivated along the way? If you don’t already export, could you – and if so, where to?

One key part of our export strategy will obviously have to be branding. Back on 1st December, I had our new brand checked over by the Brand Doctor (AKA Ivan Newman of Living Inside the Brand). Ivan is back at 3PM this Thursday. The patient we had booked in has had to postpone, so instead we’re looking generally at ‘Brand strength and wellness’.

Catch the show at 3PM on 97.8 FM in Basildon and East Thurrock, or everywhere at Gateway978.com.

If you have any ideas for the Enterprise Gateway, please, get in touch.

What?  We’re back to a single letter again this month!  It’s quite surprising how many international-related issues start with this letter.  I promise that next month we will start motoring – currently, I cannot think of any terms starting with the letter J – and K is also a challenge.  OK, then, the I’s.

ICC
In International terms, ICC stands for the International Chamber of Commerce.  Think of it as a Chamber of Commerce that covers much of the world.  Amongst their many responsibilities they formulate, interpret and put into place standards and procedures that are recognised globally. Without this, International Trade would rapidly deteriorate into local practices and chaos.  Some cynics will say this already happens, but things like the Letter or Credit rules are drawn up by the ICC. They are also responsible for arbitration, and the general opening up of global markets.  Visit their main website for more info.

Import Licence
These may still be required by some countries for some or all goods, including certain imports into the UK. Whilst compliance is the responsibility of the importer, as an exporter, it is a good idea to make sure they are doing so; after all, you want payment for your goods!

Import Paperwork
If goods are already in free circulation within the EU [see 'Free Circulation, Issue 17], paperwork is usually minimal.  However, if imports into the UK exceed £600,000 and/or your exports exceed £250,000, you need Intrastat declarations [see below].  Goods from outside the EU will require more documentation, possibly including an import licence [see above].
(All previous issues of the newsletter can be found as PDF files on my website.  Click on Articles/Newsletters on the left hand side.)

Incoterms
I have already covered these in Issue 12, at the start of the 1st actual Incoterm.
Inspection Certificate
This is what it says, but it is vital to ensure that the correct one is provided, if called upon.  Anyone can issue one, but it is more usual for an independent, random sample to be inspected by an accredited inspection company, such as SGS. Some countries may require these as a precondition of import into the Country. As ever, know the rules for the areas of the world in which you deal.
Insurance policy/certificate
If called for, it is usual for goods to be insured for 110% of their value, and will include details of quantity and route plus, if necessary, time limits and any transshipments. Insurance certificates called for under transferable Letters of Credit can cause an issue in as much as they will show the mark up amount that the middle man is taking to the other parties.  More later…
Intrastat
This is a system for collecting statistics on the physical trade in goods between EU member states.  If you import or export above the thresholds [currently £600k and £250k respectively] you must complete monthly returns on line, or face heavy fines and penalties.  There is a lot more info on the revenue’s website.  Just search for Intrastat.
Inward Processing Relief
I do not intend to include all of the many HMRC reliefs in this glossary, but this one is of note for anyone who imports goods for re-export, post processing. If you apply for IPR, you only pay VAT if you subsequently decide to sell them in the UK [or fail to met the conditions attached to IPR, of course].
ISP98
I toyed with whether or not to include, but it is still seen sometimes, so I voted it in.  ISP98 is a set of rules that govern Standby Letters of Credit [SLC].  I will cover both Letters of Credit [L/C's] and Stand bys in the relevant sections later on, but, in brief, all L/C’s and SLC’s must state under which set of internationally recognised rules they operate.  For L/C’s it should read UCP600, but for SLC’s, ISP98 is usually preferable to UCP600. Without going into too much detail, if you need further advice on ISP98 [or UCP600], please contact me.
Right, that’s the end of I. As I said at the start, J & K are presently blank, so here’s a challenge for everyone – send me an e-mail if you can think of any terms!

UKTI – www.uktradeinvest.gov.uk
Business and Culture in China – 20th Nov. London.
Business and Culture in Brazil – 14th Jan. London.
Exploring Mexico – 18th Nov. London.

London Chamber of Commerce -www.londonchamber.co.uk
Opportunities in S Arabia – 2nd Nov. London

UKTI are also an ideal contact point if you want to find our more about Trade Missions to specific countries. You usually need to arrange these well in advance but, by way of example, in the next couple of months there will be missions to S.Arabia, Libya, Bahrain, Algeria and others. They also have details of overseas trade fairs, e.g. Dubai Air Show in November. Business Link are also good for information – if you already have a Business Link advisor, speak to him/her, as, for some visits,
part funding can be available.