A guide to international trade and mastering the economic climate

Technology is changing the international trading landscape. The likes of artificial intelligence and the Internet of Things are making an impact on how things are done. But is your business importing or exporting? If your business isn’t trading internationally, you’re not alone. In fact, according to research that Sage has conducted, over the past 12 months, only 24% of UK businesses said they exported outside of their borders. However, by importing or exporting goods and services, you can help your medium-sized business to broaden its horizons, create new opportunities and reach more customers. And ultimately increase the amount of revenue coming into the business. While you might not think that your business is trading international, you’re likely to be doing so if you’ve bought anything from a foreign supplier, provide a service in another country or manage a complex international supply chain. To help you determine why international trade is worth considering as part of your growth strategy and assist you with challenges you may face, we’ve created a new report. International trade: A guide to mastering the economic climate highlights the benefits of importing and exporting goods and services. It shines a light on the challenges that businesses are facing around political uncertainty, such as Brexit, and how that is making an impact around trade. It also details how technology can solve some of the geographical and regulatory challenges of finding and moving goods around the world. International trade: A guide to mastering the economic climate covers the following topics:

• The value of international trade
• Untapped potential in international trade
• Political uncertainty and its effect on customs tariffs
• More tax-efficient international trade?
• The role of government in international trade
• Trade and the supply chain
• Trading in perishable goods
• Data localisation and protection
• The future of international trade

Here’s an excerpt from International trade: A guide to mastering the economic climate

Technology has always shaped the way we trade. Technology can unlock many trade opportunities, and doing business overseas can make you stronger, successful, and more profitable. Your aim should be to make sure you plan for and leverage the changes driven by technology so you can benefit and maintain a competitive advantage. Today, digital transformation has made international trade accessible to businesses of all sizes and empowers business leaders around the world. We’re living in an era where technology is changing at unprecedented speed. Trade is already benefiting from artificial intelligence (AI), Internet of Things (IoT), blockchain and 3D printing – and there’s much more to come. However, your business can’t just rely on new technology to trade successfully. Instead of purchasing the next big thing, your aim should be to make sure you plan for and leverage the changes driven by technology so you can benefit and maintain a competitive advantage. This is key to ensuring international trade supports your growth and development. We want to help. This report is designed to help you cope with international trading uncertainty by taking a look at how technology is transforming the nature of trade today, and what this means now and for your long-term future.