UK Export Readiness SELF-ASSESSMENT Get Started UK Export Readiness Self-Assessment Form "*" indicates required fields Step 1 of 6 16% Attempting to enter the UK market without preparation can potentially harm your business, resulting in wasted time, effort, and opportunities. Determining if your business is ready for exporting can be quite complex, and getting professional help from an expert in this field is always advisable. However, as a starting point, you can complete a simple self-assessment to see if your company is moving in the right direction to enter the UK market. Before you start the self-assessment, please note the following: 1. This self-assessment includes 36 questions that are categorised into four main areas: a. Management readiness b. Resource readiness c. Production readiness d. Export planning readiness 2. Please ensure that you respond to all questions keeping your main export product in mind. 3. All the questions have been designed in a simple YES-NO format, and your score will be a number ranging from 0 to 36, with 0 indicating the least preparedness for export and 36 indicating complete readiness. 4. At the beginning of the questionnaire, you will respond to queries about your business. We do not share your information with any external parties. 5. After completion, feel free to get in touch with Krisz to discuss your results. About your BusinessYour Company Name*Your Location*What industry does your business operate in?*Your Main Product Range*Do you already export to regional markets? If yes, what is your main export product range?*Your Name* First Your position in the company*Your Email Address* This information will only be used to send you the results of your self-assessment. Management readiness Evaluating management readiness is the first area we examine in this UK export readiness self-assessment. Please respond to the following questions: Is your business well-known in the local market?* Yes No Would you consider exporting as your long-term goal?* Yes No Do you have any trademarks/patents? If yes, are they registered?* Yes No Have you ever conducted business outside of your home country?* Yes No Do you have the spare capacity/extra staff available to attend British exhibitions and trade shows?* Yes No Is someone available who might be in charge of planning and executing your UK market entry plan?* Yes No Does your company have operational accounting and administrative knowledge that can be used in Britain?* Yes No Have you created a connection with any high-street UK bank representatives to help you assess your banking options in the UK?* Yes No Can anyone in your organisation communicate easily and understandably with a British audience?* Yes No Are you knowledgeable about your position in your local market compared with your competitors' products (advantages, disadvantages)?* Yes No Do you have some understanding of the British cultural requirements?* Yes No Are you familiar with British trends affecting the demand and supply of your products? This includes related and substitute items.* Yes No Resource readiness Your business and the export products you plan to sell in Britain must comply with UK regulations. The following questions will assist you with regard to the prerequisites for accessing the UK market.Are you familiar with UK trading rules and regulations, such as import duties and freight forwarding costs?* Yes No Have you conducted thorough research on potential UK business partners operating in your target industry?* Yes No Do you possess English product brochures and promotional marketing materials?* Yes No Have you got an English website and digital marketing strategy to enter the UK market?* Yes No Have you got adequate cash on hand to cover the cost of the advertising and marketing materials?* Yes No Have you got a system in place to manage all kinds of UK inquiries (agents, distributors, UK consumers)?* Yes No Have you got a system in place for confirming the legitimacy of prospective British trading partners?* Yes No If needed, are you willing to build procedures, hire people, and learn new skills to get into the UK market?* Yes No Production readiness The transition from local to international sales is a significant step for your business, and the following phase will determine if the production is adequate for UK export. Do your product's parameters, such as design, weight and size measurements, consider British customs and traditions as well as geographic and climatic circumstances?* Yes No Are you prepared to modify essential product characteristics, such as packaging and product specifications, to satisfy the demands of the UK market?* Yes No Are you able to utilise seasonal or ongoing extra production capacity for UK export production?* Yes No Do you need to alter your production process to satisfy the demands of the UK export market?* Yes No Are you aware of the conditions for product warranties needed to compete in the UK market?* Yes No Are you aware of the quality management (ISO) standards your product must meet to be marketed in the UK?* Yes No Do you recognise that your UK customers' experiences (before and after purchase) are just as vital as the actual product?* Yes No Have you determined the price, timeframe, and personnel requirements for production-related adjustments?* Yes No Export planning readiness Entering the UK market has the potential for a significant profit, but it will require initial investments. The final phase will assess your company's financial health. Have you developed a comprehensive UK market entry plan?* Yes No Have you determined and justified the products with the most significant potential for UK sales?* Yes No Can you define your product's uniqueness in relation to the UK market?* Yes No Have you developed a UK pricing strategy and a comprehensive pricing analysis?* Yes No Have you developed UK revenue projections based on a realistic assessment of market share and supply/demand trends?* Yes No Have all the overhead expenditures and variable costs of bringing your product to the UK market been thoroughly analysed?* Yes No Have you conducted a cash flow analysis?* Yes No Have you conducted a profit analysis?* Yes No
