IBN: Let’s trade our way to economic recovery

Business leaders from across the Yorkshire region who attended UK Trade & Investment’s International Business Network (IBN) event were told to ‘trade their way out of the recession’.

The IBN, which took place at the National Science Learning Centre in York, featured a number of high profile speakers including patron of the IBN Lord Digby Jones.

Lord Digby, who is the former minister for trade & investment and also the former director general of the CBI, explained how knowledge, and transfer of knowledge, is key to global recovery. He also spoke about the importance of getting out in potential new markets – and how UKTI can help businesses to do this.

“UKTI are fabulous,” he said. “They are either free or charge you not a lot of money for their help. Businesses need to find a market, get out into the market and go and test the water.”

Digby spoke about his time as trade minister and explained that he made 45 overseas trade visits in 18 months, saying there was no replacement for face to face business.

Speaking about the recovery of the economy he said: “We have to get this nation trading. We cannot get out of this unless we trade our way out of it – around the world.”

Other speakers at the event included Greg Dyke, former director general of the BBC and currently chancellor of the University of York and chairman of the British Film Industry and Dennis Turner, chief economist at HSBC. Greg Dyke spoke about the relationship between universities and business while Dennis Turner spoke about the recovery of the economy.

They formed a ‘Question Time’ panel along with two representatives from local business – Simon Parker from British Horse Feeds and Joyce Trueman from Macalloy Bar & Cable Systems. The panel was chaired by David Parkin, editor of the Business Desk.

The local business representatives spoke about how their companies have survived, and thrived, through the recession and offered advice to other business leaders.

Simon Parker said: “Take advantage of everything that UKTI puts in front of you. You have access to top class advisers. They don’t allow you to go into a market without carrying out research. They provide funding and they are here to invest in you as a business if you have the right management approach and right products.”

He spoke about visiting an exhibition in Dubai where there was significant interest in the company’s products.

“We wouldn’t have found those customers at home,” he said. “You must be prepared to go into the world’s markets as you will not find the customers at home.”

Joyce Trueman added: “UKTI have been a tremendous help to our company. We couldn’t have got here without them. Use them. Talk to people in the offices overseas. Use your ITA (international trade adviser), build up a good relationship with them and get out there to market.”

The event included networking sessions and a talk from Digby Jones about the next IBN, which will take place in February 2010 in South Africa.

Further information about the upcoming IBN can be found in the events calendar. Additional enquiries should be made to Gail Leathley on 0113 3949824 or by email at gail@uktiyh.org.uk.