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Going International With Your Family Business

Going International With Your Family Business

Family businesses form the bedrock of the Scottish economy, accounting for 70% of Scottish businesses and employing more than 50% of the Scottish private sector workforce.  

Many of these family businesses are looking at exciting international opportunities for growth and Burness Paull is excited to be the sponsor of the International Growth category at The Herald’s forthcoming Scottish Family Business Awards on 4 December.

To enter the awards please click here.

Despite ongoing economic challenges, latest figures from Scottish Development International (SDI) show that Scottish exports increased by 7% to just under £24 billion in 2011, demonstrating that more Scottish companies are looking to grow their business internationally and take advantage of the continued global demand for Scottish products and services. And therein lies the opportunity for many of Scotland’s family businesses.

It’s also interesting to note that Scotland's top 5 export destinations are:

  1. USA continues to be the top export destination which accounts for an estimated £3.5 billion of exports (14.7 percent of total exports) 
  2. Netherlands £2.7 billion  
  3. France £1.9 billion  
  4. Germany £1.4 billion 
  5. Belgium £980 million

Our Family Business team at Burness Paull have a huge amount of experience across many sectors and provide a real understanding of the global opportunities on offer.

So just what are the key issues family businesses need to address before taking a step into a foreign market?

  1. How to access the market – a local agent, distributor or joint venture partner?
  2. Local regulations – how much red tape and what is the tax regime?
  3. Currency risk and fluctuations – can you hedge?
  4. Protect your business and your IP – what measures can be taken?
  5. Political and economic issues – is there stability and is there a corruption risk?

To find out more about our services please contact us using the link below.

Peter Lawson

Burness admin