Time to add Kazakhstan to your Export Portfolio?
According to research by British Chambers of Commerce, Kazakhstan provided one of the busiest trading lines for British e-commerce companies in 2014. This is great news for UK SMEs which might be considering branching out into exports for the first time. Export opportunities for SMEs in Kazakhstan have never been better – in this week’s blog, we look at why.
It may come as a surprise to some to know that after the US, Kazakhstan was the second fastest growing export market for British online retailers in the first two months of 2014.
Kazakhstan makes top 3 export destinations!
The top five fastest growing trade links for British e-tailers were:
1. USA
2. Ukraine
3. Kazakhstan
4. China
5. New Zealand
In research which coincided with last year’s National Export Week, the British Chambers of Commerce revealed that sales and orders in the services sector, which ranges from accountancy to IT consulting were on the rise. A study of some 5,600 companies revealed that the number of knowledge based businesses that had seen a significant increase in sales was up 38% on the last quarter of 2013. A clear sign perhaps that economic growth was gathering pace, but also that companies are starting to recognise the huge potential which awaits in Kazakhstan’s market place. Just one glance at a map which highlights the size of the country is enough to make you sit up and take notice. Add to that the fact that it is rich with natural resources, including vast reserves of oil and gas and you can see why UK business would be foolish to ignore it as an overseas market.
Europe overlaid with scaled outline of Kazakhstan
Whilst exporting can seem like a challenging undertaking for smaller businesses, in fact, with the right contacts SMEs can have the edge against bigger company rivals. Perceived as more flexible and quicker to deliver, SMEs are also well placed to respond to localisation requirements. Large corporations often fail to consider localisation, but this is high on the agenda for Kazakh authorities and the company which proposes use of local employment, industry or manufacturing is likely to be preferred and find its way through regulations with far greater ease than the company which does not.
Bearing in mind the fact that there is always great interest in and appetite for British innovation and products, it’s a great time for UK SMEs to begin exporting.
Established contacts mean that Kazopp is well placed to link UK SMEs to good and trustworthy companies in Kazakhstan, which takes all the hassle and expense out of the export process. If your SME has products, services or cutting edge technologies which could be of interest, particularly in the oil/gas and construction industries and would like to find out more, get in touch.