To say trade is pivotal to the United Kingdom’s economy is an understatement. The country’s total value of imports and exports represents just about half of its GDP, and it has been growing steadily in recent years. The United Kingdom is a highly sophisticated market, the world second largest destination for foreign investors, with a strong demand for products and services that improve productivity (especially if you have a solution to their incredibly unreliable tube system).
To attract foreign business and investments, the British government supports trade liberalisation. The country is an entry to the European market, with few trade or investment barriers, and no restrictions on capital transfers or profits repatriation. The government also put in place a variety of programs to attract foreign companies and investments, including the possibility to store goods for shipment without tariffs or import duties in seven free trade zones.
United Kingdom’s post-Brexit future is uncertain, and London is still the world’s most expensive city in which to do business. But we are talking here of the 10th-largest export economy with the world’s most important financial centre as its capital. So get prepare to drink tea.
In this Getting to Global guide, we will guide you through the process of reaching United Kingdom’s consumers, successfully making sales on ecommerce channels, and getting your products to reach the desired consumers.