Expanding Your Business Overseas to the UAE

Expanding one’s business overseas using export services from HSBC or other banks may be one of the smartest moves that a business can make.

19th September 2012 at 11:06 pm

In these economic times it can be difficult to know how to expand one’s business so that it can continue to grow and make a profit. This is especially true for small business owners and entrepreneurs. There are ways to expand within one’s own country that may work, but it’s not a guarantee. However, expanding one’s business overseas using export services from HSBC or other banks may be one of the smartest moves that a business can make. In fact, there have been studies that have shown that places like the United Arab Emirates, or UAE, are actually at a larger growth rate than countries like the United States.

One of the best things that a business can do to increase revenue is to expand its business overseas. Not only does the business receive export loans and documentary credits, the business also taps into other economies which gives a greater chance for increased revenue. The trick is to find the proper outlet for the businesses’ export services so that there is the least amount of risk while still gaining the greatest amount of profit. The countries that receive some of the greatest amount of exports from the United States are Canada, Greater China, and Western Europe. These trades are numerous and do not leave a lot of room for new businesses or new trade opportunities. This is why business owners must search for other economic outlets overseas.

There is one such place that has been having increased economic growth: the United Arab Emirates. The UAE has been swiftly scaling up the economic scale and they are looking for further ways to increase the country’s revenue. According to the UAE Ministry of Foreign Trade, from 1994 to 2004 the UAE has seen a 98 per cent increase in exports from their country, less than half of which comes from oil and gas products. During that time period they also saw an increase of imports go up by 133 per cent. These increases in trade show just how much of the UAE is growing and how important the import products are to the UAE. This rapid increase in the amount of imports and exports has shown that the UAE is not only growing faster than bigger countries like the United States, they also have a greater trade confidence as well since they are less likely to bail on whatever trade opportunities they have agreed to.

No matter what business it is or what product a business is selling, export services can allow for a greatly increased revenue that cannot be found anywhere else. While certain places like Canada and Western Europe are popular and receive a number of trade exports from the United States, there are many other trade opportunities in other places. This is especially true in places like the UAE where they have had a great increase in their economy and they are looking for even more chances to trade to continue their upward growth. Whatever the business strategy is, export services can often cause a massive growth for businesses and once that trade is established, the revenue will just keep coming in and provide more opportunities for growth where none were present before.

Jane Tchan

Jane Tchan is editor of SmallBizPod. She has more than 30 years of experience gained from working across a diverse range of industries, including tourism and leisure, retailing, sports sponsorship and food. During that time she has edited a variety of publications and online media http://www.smallbizpod.co.uk

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