updated-gci-presentation (1)
TRANSCRIPT
LONDON EXPORT PLAN
Global Cities Initiative Workshop Salt Lake City – 23.07.15
L O N D O N E X P O R T P L A N WHAT IS THE PROBLEM? WHAT IS THE OBJECTIVE?
The Chancellor has set an ambitious target to double exports by 2020. Based on current trends this would require an 8.9% year on year growth.
In London the opportunity is great, but not fully optimised.
We are already doing a lot, but need to do more.
We have a ‘whole’ government approach but haven’t considered cities enough.
This is not just a volume issue, what about the diversity of our exports?
Like other world cities, we must capitalise upon the opportunities offered in the emerging markets
For this reason we are developing the London Export Plan: A strategic partnership aiming to increase existing London exporters’
capacity and encourage new businesses to internationalize.
L O N D O N E X P O R T P L A N FOCUS ON PROMINENT SUB-SECTORS IN LONDON
Tech Europe’s leading location for international tech companies
Creative Industries London is the World’s
creative capital
Video Games London is at the heart of
the UK games industry
Life Sciences Set up in one of Europe’s
leading life sciences hotspots
Fintech London is the World’s largest
centre for fintech
Financial services London is the World’s number
one financial centre
49%
24%
4%
17%
4% 2% Europe
North America
South & Central America
Asia
Africa
Australasia & Oceania
L O N D O N E X P O R T P L A N
2014, “London Business Survey 2014: Exports”; 2015, GLA Economics data
EXPORT DESTINATIONS
Key service export markets in 2013 were Europe and North
America
London exports are dominated by services, accounting for around half of UK’s overall
services export
!
L O N D O N E X P O R T P L A N KEY SERVICE EXPORT INDUSTRIES
2014, “Trading Places: Maximising London’s Exports Potential”
!
L O N D O N E X P O R T P L A N EXISTING EXPORT SUPPORT
2014, “Trading Places: Maximising London’s Exports Potential”
AGENCIES WITH A ROLE
IN EXPORTING
PRIVATE COMPANIES
TRADE ASSOCIATIONS
HER MAJESTY’S REVENUE AND CUSTOMS
BRITISH LIBRARY
BUSINESS NETWORKS
LONDON AND PARTNERS
LONDON BOROUGHS
LONDON ENTERPRISE PARTNERSHIP
DEPARTMENT OF HEALTH
MINISTRY OF DEFENCE
UK TRADE AND INDUSTRY
BRITISH COUNCIL
BUSINESS INNOVATION AND SKILLS
FOREIGN AND COMMONWEALTH OFFICE
BANKS
CHAMBERS OF COMMERCE
MAYOR OF LONDON
UNIVERSITIES
CATAPULTS
HER MAJESTY’S TRASURY
Market Assessment
Literature Scan
SME Consultation
Business Consultation
Quantitative Data
L O N D O N E X P O R T P L A N MARKET ASSESSMENT
Market Assessment
Business Consulta-o
n
Quan-ta-ve Export Data
SME Consulta-o
n
Core Team:
Approach:
L O N D O N E X P O R T P L A N MARKET ENTRY MOTIVATIONS
2014, Internationalisation Strategies, Barriers & Awareness Survey, UKTI
Identified as most important reason:*
0%
0%
5%
20%
19%
52%
Base: All exporters (Base, None of these, Don’t know) Total (819, 2%, 0%)
L O N D O N E X P O R T P L A N BARRIERS TO MARKET ENTRY
2013, Exporting Britain: trading our way back to growth, LCCI
L O N D O N E X P O R T P L A N BARRIERS TO INDIVIDUAL MARKETS
2014, Internationalisation Strategies, Barriers & Awareness Survey, UKTI
L O N D O N E X P O R T P L A N
2014, Internationalisation Strategies, Barriers & Awareness Survey, UKTI
Identifying export potential
Difficulty finding reliable local partners
Non-payment risks
Theft of intellectual/physical property
Problems with obtaining visas
Lack of market intelligence
Language and cultural barriers
KEY FINDINGS: CHALLENGES
L O N D O N E X P O R T P L A N CHALLENGES
2015, GLA Voxpop Surveys
L O N D O N E X P O R T P L A N CHALLENGES
2015, GLA Voxpop Surveys
L O N D O N E X P O R T P L A N
A private-sector led process with engagement and buy-in from the business community
Strategies that show clear ‘additionality’ to existing export arrangements
Leveraging London’s high growth strengths in sectors like tech and life-sciences
A clear basis for evaluating the plan’s success
Support and insight from GCI
FINAL OVERVIEW