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As we reflect on the inspiring MSDUK Supplier diversity roadshow event in Manchester, one thing became clear – the immense potential for growth lies not just within our borders, but far beyond them. Amidst the determination of numerous companies to expand, it was astonishing to discover how only a few had considered the power of exporting as a pivotal part of their expansion strategy. This realisation took a new dimension when MSDUK emphasised the two pivotal questions from corporates seeking partners: 1) the company’s turnover and 2) whether it’s involved in exporting. This spotlight on exporting underscored the pressing need to keep MSDUK’s profile up to date as an Ethnic Minority Business (EMBs) looking to venture onto the global stage. 

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Navigating the Path: Leverage DBT’s Resources 

As a UK-based business contributing to the tax system, you’re entitled to tap into the wealth of services offered by the Department for Business and Trade (DBT). Many of these services are often free. Whether that be online resources, such as exploring new markets for your product or service, or if you need to resolve doubts about operating overseas with an International Trade Advisor. Here are two tips worth your time checking out: 

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1. Free Webinars for Additional Exporting Expertise  
Register for the Export Academy, an excellent first step that will give you access to free online webinars to pick up new skills and introduce new markets. You don’t need to commit to an entire cohort but instead can choose what you need- when you need it. Sign up and catch up in your own time – and you can receive a mailing list to find out about future initiatives. To give you an example, a recent session about the start-up loans programme in collaboration with the British Business Bank shared that 21% of its start-up loans went to Asian, Black, and other ethnic minority businesses. 

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2. Up to Four Hours’ Worth of Free Support from the International Markets Teams 

If you’re already working internationally: reach out to the DBT International Market Team. Its extensive overseas network is composed of trade specialists based in UK Embassies, Consulates, and High Commissions. The International Market Team can offer up to four hours’ worth of support for free. During that time, you can find market information and connections to third-party providers. Even support with a specific area outside of the government’s remit such as HR or legal services. This is a free resource and one that can help you to make an informed decision for future growth.  

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Spotlight on the Caribbean: Unexplored Potential for EMBs 

Beyond the mesmerising tourist spots, the Caribbean offers incredible business prospects. Did you know that the UK’s total trade (exports plus imports) in goods and services with the CARIFORUM group of countries reached close to £5 billion by the end of Q4 2022? This data speaks volumes, and it’s time for MSDUK members to harness this potential.  

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“As part of the Latin America and Caribbean (LATAC) team, I’m privileged to have witnessed the vast potential often overlooked by UK exporters. Across this large region, we have lots of opportunities in many sectors for large companies and SMEs. One of the main areas with potential is The Caribbean” – Cristina Irving Turner, LATAC Business Specialist. 

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Many members of this CARIFORUM group of markets have diaspora communities in the UK with the advantage of understanding the local culture and history. With English as a common language, and shared business and legal processes: the Caribbean can be untapped for many UK companies across a range of sectors. For instance, Guyana – a hub of growth within CARIFORUM. Last year, Guyana emerged as the UK’s largest trading partner, accounting for a staggering 24.4% of all trade. As an MSDUK member, your cultural ties and understanding can be the key to unlocking these opportunities. Check out, CARIFORUM-UK Economic Partnership Agreement which ensures that British products and services are competitive and can operate as smoothly as possible in those countries. 

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Empowering Your Journey: How MSDUK and DBT Can Help  

In a world filled with untapped resources and hidden opportunities, it’s crucial to shed light on what’s available. At MSDUK, we’re committed to nurturing your growth ambitions. Our strong network, resources, and connections can be your strategic allies on your journey to international trade success. Explore the uncharted territories, capitalise on DBT’s services, and share this illuminating blog with your peers. Together, we can transform uncertainties into opportunities and elevate your business to unprecedented heights. Together, We Export Success!  


Co-Authored by DBT-LATAC and MSDUK  

If you have any questions or need additional information, please get in touch at: 
DBT- [email protected]. 
MSDUK- [email protected]