UKTI help Solent-based MSB explore new challenging markets

Fast facts Company: Griffon Hoverwork Industry: Marine Target Market: Global UKTI Services: Gateway to Global Growth Overseas Market Introduction Service, Trade Missions www.griffonhoverwork.com

Southampton-based Griffon Hoverwork (GHL) , world leaders in the design, manufacture and operation of hovercrafts, are successfully exporting in markets around the world. With UK Trade & Investments (UKTI) assistance, the firm are looking to tap into new, more challenging markets. Established in 2008 following the acquisition and merger of two companies, GHL has almost half a century of hovercraft expertise and innovation behind it. Today, the MidSized Business (MSB) looks quite different compared to its predecessors. Over the last five years the company has developed and expanded, seeing success in a multitude of international markets.

Mike Coveney, Sales & Marketing Director of GHL, said: We have customers worldwide in sectors such as military, coastguard, search and rescue. We have experienced considerable growth from our existing customer segments over the last 5 years and are targeting further growth from the commercial sector, particularly to support logistics demands in the energy sector. We are also expanding into new marketing territories. Export opportunities During a visit from UKTI officials and high profile delegates during Export Week in May 2013, Griffon Hoverwork explored new market opportunities. International diplomats from Pakistan, Malaysia, Trinidad & Tobago and Atlanta (USA) learnt more about the firms success and

requirements to increase trade between South East firms and these countries. Mike said: Further to this visit, we have begun to develop relationships with potential customers in markets such as Trinidad & Tobago, where we are now close to securing a deal. This wouldnt have happened without the help of UKTI. We have never been a business who shies away from certain challenges when entering or expanding into new markets. As one of the first companies to export military goods to Colombia, we are working hard to develop new customers in northern South America, building on prior success in Peru and Venezuela with our new partner in Brazil. This relationship was established with the support of the local UKTI team and following an Overseas Market Introduction Service (OMIS) project

 When we have approached UKTI for assistance, we have received their support. Without their involvement, we would find it extremely difficult to break into new markets. "
Mike Coveney, Sales & Marketing Director of Griffon Hoverwork

Helping you to do business abroad Doing business in another country can be a challenge, so its good to know that UK Trade & Investment is there to help you succeed. Through a range of unique services, including participation at selected trade fairs, overseas missions and providing bespoke market intelligence, UK Trade & Investment can help you crack foreign markets and quickly get to grips with regulations and business practices overseas. UK Trade & Investments Overseas Market Introduction Service (OMIS) is a flexible business tool, letting you use the services of our trade teams, located in our embassies, high commissions and consulates across the world, to benefit your business. A service package could include: Market, sector advice Analysis of market entry strategies Support during overseas visits Identification of possible business partners

Mike commented: Agents are the secret to our success; we have agents all over the globe, all of which work regularly with UKTI staff in their countries. For any British MSB, finding and managing agents overseas is incredibly important and a big challenge GHL have established a structured process to research, and then mobilise, partners in new markets. It starts with extensive desk research in the UK which is then scored to establish new market priorities. This then leads to OMIS studies with the particular objective to find relevant and capable partners. This dovetails with work in hand at GHL to partner with other leading British Companies in the marine sector, facilitated by UKTI, thereby enabling partnership and knowledge sharing. Global growth Through this combined approach, GHL are in the process of expanding their presence in Canada, Finland, Vietnam, France, Greenland, Sweden, Australia, Germany and the Philippines; building on their presence in over 30 other markets. Another important matter that an OMIS highlights is how and where to effectively apply our time and resources. For example, when initially exploring our opportunities in Canada, it became clear that approaching military organisations would not be as advantageous as targeting ferry transport companies. Looking towards their future exporting strategy, GHL are seeking new customers and opportunities, as Mike stated: We are developing a range of new products that offer a step change in value for money. To maximise the potential for these new products it is vital that we challenge all of our partners to develop relationships with new leads.

Our plan is to make maximum use of the support and facilities available from UKTI to both inform and support this effort Whenever we have approached UKTI for for assistance, we have received their support. Without their involvement, we would find it extremely difficult to break into new markets, would waste money in areas where success would be unlikely and would be ill informed to challenge our partners. GHL have had the regular one-to-one support of their International Trade Adviser (ITA), Chris Uniacke, for over 10 years. As Mike said: Chris is consistently helpful and friendly, and has proven to be a vital point of contact. He regularly assists us to liaise with the right people in overseas markets. The export advantage International trade has always played an important role in the UK economy. Today it accounts for almost 20 per cent of t he nations GDP. Exporting can be challenging, but the benefits can be the difference between profit and loss. Research carried out by UKTI shows that: 70 per cent of companies found that overseas business led to fresh ideas and innovation, upgrading their products and service 85 per cent of UKTI clients said exporting led to a level of growth not otherwise possible 87 per cent reported that exporting significantly improved their profile and credibility For more information, please go to www.ukti.gov.uk/export

UKTI was delighted to support Griffon Hoverwork in its business overseas. To find an adviser in your chosen market and begin your own success story now, scan this code with your smartphone, visit www.ukti.gov.uk, or call +44(0)8452 689 600 UK Trade & Investment is the Government Department that helps UK-based companies succeed in the global economy. We also help overseas companies bring their highquality investment to the UKs dynamic economy. We provide companies with the tools they require to be competitive on the world stage.

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