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Dealing with the British…
Heiki Pant
Export AdvisorEnterprise Estonia UK
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Bird’s eye view
• Population of 63 million• Density of 276 persons per sq km(Estonia 30,5)• England 53 mil; Scotland 5 mil; Wales 3 mil; NI 2 • Currency – the British Pound, 1£ ~ 1, 25 €
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UK’s position in the world
• 6th largest Economy in the world (7-8)
• In 2012, the UK was the 10th largest exporter in the world and the 6th largest importer
• In 2012, the UK had the 3rd largest stock of inward foreign direct investment and the 2nd largest stock of outward foreign direct investment
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UK public deficit
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From Lehman’s collapse to date
• Financial crisis hit hard• Banking bail-out unprecedented~ £ 500 bn
• 2012 economic turnaround• Outperforming other economies in G7
• Population boom
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Spread of economic activity
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Economy at a glance
• Services sector dominant, contributing • 78% of GDP• Share of financial services significant
In the UK around 2,06 mil people work in financial services ( London on world stage alongside NYC)
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Bankers bonuses and Muscles from Brussels
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Creative industries (London)
• In London 697 000 jobs in creative sector• 223 movies released last year• UK Design– £ 15 bn• UK Fashion industry - £ 26 bn • 14M Theatre attendances per year
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Education
• 435 000 overseas student in UK every year• 2011 higher education contributed £ 17,5 bn
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Automotive industry
• Employs 700 000 staff• Mass production reduced • High end of value chain
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Defence Industry
• £ 35 bn turnover• ~ 7 bn £ = export• World second largest defence equipment producer after
US• 300 000 people in sector
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Pharmaceutical
• Employs 72 000• 27 000 in R&D • The UK’s pharmaceutical sector invests approximately• £11.8 million every day in R&D• Indirectly employs round 200 000
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IT
• The merge of new Hubs:
- Shoreditch Silicon Roundabout
- M 4 corridor- Panasonic, HTC, Vodafone, Microsoft, Adobe, Google
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Challenge
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Rental market out of control
• £45 000 p/W• 195 000 pcm• 2,34 mil p/a
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Construction market and wooden houses
• During the last 10 years the share of wooden and timber houses has grown
• Quarter of newly built = wooden houses• (Timber loving) Scotland- 2/3 of newly built properties
are timber frame• Share of timber frame and
modular houses has grown in
Ireland and NI
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Historical element
• 1666 Great fire of London
• 1667 construction of Timber Frame multi storey residential buildings banned
• 1990 the ban was • overturned
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Entering the UK market How to start
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Preparatory work
Mapping
Is my product fit for market
Certificates
Pricing
Competitors
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Mapping potential partners
Industry associations, webpages,
members links
Databases, lists from EAS
E-commerce-
E-bay, Amazon,
Linked In
Google search
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Backround information search
Webpage
Linked In
TwitterFacebook
Articles, Charity work
etc
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That all important first call
• Who am I contacting? • what is the nature of the call• What do I know already about the company • What is my product/ service- why should I be listened to • What are my strengths and possibly weaknesses. How
do I turn them into strengths• Further steps
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Panso
• Practice Practice Practice
• Elevator speech- jogging, walking
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Gate keeper
• Secretary, receptionist, PA
• She/he will keep the lines clean
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e-mail sales letter
• The chances of getting response are extremely low
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You will not hear word „no“
• British usually refrain from saying no
• „Got too many suppliers“ is common
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Before „send“ THINK
„Excuse me, I don’t understand your reaction about our telephone conversation. But if you are too busy and you are not interested my proposal then please answer to me.
Other way I will continue disturb you in the future, or who I should conact.“
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SwSwSwNxt
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Kontaktid
HEIKI PANT
TRADE ADVISER
Enterprise Estonia UK
Estonian Embassy
16 Hyde Park Gate
SW7 5DG, London
Tel: + 44 (0) 207 838 5395
Mob:+ 44 (0) 750 865 8091