But how can your business tap into this market effectively? This blog explores strategies to integrate into international supply chains, boosting your business’s reach and success.

Strengthening Trade Links

Sporting events have a unique way of uniting people from around the world. With fans travelling across Europe for Euro 2024 and other global events, there’s a significant opportunity for businesses to capitalise on this international movement.

If your business caters to sectors such as sports manufacturing, medical supplies, or food and beverage, now is the perfect time to boost your supply chain links. Establishing robust international trade connections can position your business to meet the rising demand associated with these events.

The Impact of UK Consumer Spending on Sports

Historically, major sporting events have substantially increased consumer spending in the UK. As an example, in the third quarter of 2023, UK households purchased approximately £2.2 billion pounds’ worth of sports and other outdoor recreation equipment[1]. And during the 2018 World Cup, UK consumers spent £1.9 billion.

While we can’t predict exact figures for Euro 2024, it’s reasonable to expect a significant boost in spending, particularly if England advances to the later stages. Businesses should prepare to meet this surge in demand which could potentially increase their revenue by millions.

International Trading –  A Strategic Advantage: Sourcing Products Beyond the EU

Southeast Asia presents numerous trading benefits for UK businesses, including a skilled workforce, lower labour costs, and established trading routes. The region also offers a wide range of suppliers who are eager to engage with UK markets.

To ensure quality and standards, it’s crucial to implement a thorough and reliable audit process. Engaging local auditors who specialise in specific areas or conducting comprehensive supplier audits can help maintain high standards and efficiency.

The Benefits of a Strong Supply Chain

With Euro 2024 on the horizon, now is the time to evaluate and strengthen your supply chain. Conducting a detailed supply chain audit with on-the-ground specialists ensures compliance, reduces risks, and enhances performance.

A robust supply chain leads to cost reductions and increased profitability, positioning your business to thrive during and after the event.

Get in Touch

For more information on optimising your supply chain, visit the supplier auditing section of our website. Contact Kiley Tan at 07885 784783 or via email at kiley.tan@mosaicint.co.uk for expert advice and support.

[1] Statistia, 2024

The post Harness the Excitement of EURO 2024 for Business Growth appeared first on Mosaic International.

So how do you tap into this market to benefit your business?

In this blog we dive into ways your business can enter into international supply chains in order to boost business growth.

Thinking about trade links

Nothing brings people together like a shared common interest, and sporting events is one of them. We’ve had people from across the globe travel to the UK in recent months for events hosted here in the UK, and it wouldn’t be a surprise if many UK residents travel off to the middle east later this year for the World Cup.

If your business can benefit from this sort of international trade, be it sourcing parts to sporting manufacturers, having ties with the medical industry or even the food and drink industry, then now certainly is the time to start thinking about those supply chain links.

UK Consumer spending during sporting events

From 2005 to 2019, consumer spending on recreational and sporting services in the UK increased from roughly 7.6 billion British pounds to approximately 12 billion British pounds. And during the last world cup in 2018, UK consumers spent £1.9bn during the tournament.

Now we’ve not got a crystal ball, but we can see how spending might play out in this year’s World Cup (certainly in the billions), and it’s worth noting that if England make it to the final, you could add an extra billion onto estimated figures.

Sourcing products from outside of the EU

Southeast Asia offers many trading advantages to UK businesses. The region offers a highly skilled workforce, with lower labour costs and a well-established trading route to the UK. It also offers a wide range of suppliers who are ready and willing to do business with you.

Having a reliable and robust audit process ensure quality and standards are maintained and you’ll want a localised auditor who’s specific focus is on one key issue, or a full audit across a whole supplier system of operations.

Key benefits of a supply chain

Now really is the time to start thinking about your businesses current supply chain ahead of the World Cup later this year. From having a comprehensive supply chain audit, conducted by a specialist on the ground auditor at the supply source, you’re ensuring that a robust quality management process of compliance, risk reduction and an improvement in performance output is obtained.

This results in a reduction in costs and an increase in profitability.

Get in touch

For more information about our localised supply chain, visit the supplier auditing section of our website or contact Kiley Tan on 07885 784783 or kiley.tan@mosaicint.co.uk for more info.

The post The beautiful game (and international trading) appeared first on Mosaic International.

In our latest blog, we take a look at how travel disruption can affect a supply chain, and why having a plan B is just as important as your plan A.

Servicing your customers and completing orders if your supply chain breaks down

With the current issues facing air travel in the UK at present, there will be no surprise that the delays and cancellations in flights are not only affecting those wanting to take a vacation abroad, but also businesses who rely on air travel for trade.

Since the pandemic, airline companies laid off 400,000 members of staff worldwide, but now the demand for international travel is getting back to normal again, airlines are becoming overwhelmed due to a lack of human resource. This lack of planning has meant that in the UK alone there have been over 900 flight cancellations since May.

There are, of course, other modes of transport, such as shipping, but as we saw with the Ever Given and the Suez Canal in 2021, unexpected problems can arise without warning whatever your preferred mode of transport.

Do you have a back-up if a supply problem arises?

As well as supply chain disruptions caused by travel delays, those who travel abroad for business to make links with customers, make deals, and check on how companies are progressing in other countries a lack of physical presence can also cause issues.

In the physical supply chain, there are options with an on the ground supplier audit service. For example, can you service your customers and complete orders if your supply chain breaks down?

The issues we are facing now with travel disruptions could mean that your product either won’t get where you need it or will be delayed to the point where it is damaging to your business.

Do you have a plan B or a backup supplier in another country if this happens?

If you do, that’s great! But you will need to think about whether your plan B supplier can give you the same amount of quality, and cost-effective product as supplier A. If you do not have a backup supplier, now is the time to source one – and we can help.

Supplier Auditing

At Mosaic International we have an ‘on the ground’ supplier audit service, that is physically based in the local territory of your supplier.

Having a locally based supplier auditor offers major advantages; they can immediately respond to changing circumstances, such as transport blockages and delays, but one of the biggest advantages is they understand the local culture.

This gives our clients a major competitive advantage. Those businesses that have been dealing with this region for some time will know how different working practices are abroad compared to the UK.

Looking at new markets

Global purchasing is on the increase and the Pacific Rim is going to be on most importers list. Here at Mosaic International we can help your business develop in Southeast Asian markets.

We can support you in starting the process of determining which part of the region your products could enter, who your suppliers should be and how to exploit these opportunities.

The reality is this is a medium to long term project – and if you don’t start, you’ll never reap the benefits. While it is never too late, it is also equally true that it is never too early to start!

For more information about our localised supply chain, visit the supplier auditing section of our website or contact Kiley Tan on 07885 784783 or kiley.tan@mosaicint.co.uk for more info.

The post Supply Chain Issues – Do you have a back-up plan if problems arise? appeared first on Mosaic International.

Climate change is the biggest challenge of our lifetime

According to scientists at the Intergovernmental Panel on Climate Change (IPCC), global temperature increase must be limited to no more than 1.5°C to preserve our current way of life. This can only be realised if the world can achieve carbon net zero by 2050. In recent years and despite pledges by governments across the world, carbon emissions globally have increased rather than decrease.

The UK have pledged to be carbon net-zero by 2050 but in order to accomplish this goal, it is likely that all parts of the economy (including SMEs) will have to undertake initiatives to measure, minimise and offset their carbon emissions. Currently, only listed and larger companies have obligations to do so.

The research I am conducting is to determine how Yorkshire based manufacturing SMEs are dealing with net zero, how prepared they are, their source of information, their drivers and constraints for achieving net zero and whether they are measuring carbon emissions in their supply chain. By completing the survey, you can contribute to an overall picture of what can be done to accelerate net zero within the industry, in the region, and beyond.

Your response matters

These are complex issues, but I believe solutions must be found. At stake is not simply profitability and continued success of manufacturing in the region but the world as we know it today.

The survey can be found here

It will take 10 – 15 minutes to complete.

Please feel free to forward this survey to your contacts in other manufacturing SMEs in Yorkshire.

If you have any questions arising from the survey, please do not hesitate to contact Kiley at kbttan1@sheffield.ac.uk or 07885 784783

Thank you again for your attention and participation.

The post Net Zero Preparedness of Yorkshire Manufacturing SME – Survey appeared first on Mosaic International.

After the referendum vote to leave the EU in 2016 was cast, a new word was coined into our vocabulary, ‘Brexit.’ And although it wasn’t until January 2020 that the UK officially left the EU, our government is now ready to join a club that has around 500 million people in it, has a combined GDP of $13.5 trillion, and generates more than 13% of the world’s income.

So, what is this illusive club? The ‘Comprehensive and Progressive Agreement for Trans-Pacific Partnership’ or CPTPP as it is more commonly known, and it is a free trade agreement (FTA) between 11 countries around the Asia-Pacific region. The UK is on a fast track to join and become the first non-founding country to do so.

Who are the current members and what advantages are there to the UK joining?

The key members are Canada, Japan, Malaysia, and Australia but also countries like Vietnam with whom the UK expects to supply digital technology such as 5G and smart cities. In fact, as part of the drive to help UK technology businesses develop trading relationships with the region, the UK government has allocated £8m to launch the Digital Trade Network.

As with all trade agreements, it’s about reducing or eliminating barriers to trading with each other. That includes tariffs and import charges, however, unlike the EU, the CPTTP is not a single market and therefore trading partners can impose their own standards and protect certain domestic products such as Japan’s rice and Canada’s dairy industry.

Why is the UK involved when it’s not an Asian-Pacific country?

As a former member of the EU the UK has retained FTAs with many of the CPTPP members and is currently negotiating with Malaysia and Brunei while agreements in principle have been reached with Australia and New Zealand in June and October 2021, respectively.

According to the UK government, we want to be known as the European country with the most complementary trading relationships around the region. They also say that the UK has created more technology entrepreneurs outside of the US, China, and India.

This is one of the reasons why they are creating initiatives such as the Digital Trade Network, supporting local businesses who are looking to develop trading partnerships in the Asia-Pacific region.

What are the advantages of belonging to the CPTTP?

The main advantage for the UK is that it gives UK businesses a springboard into the Indo-Pacific economic powerhouse.

With no, or lower duties, and easier cross border clearance, CPTTP gives UK businesses access to new markets. This is good news as the region’s strength as part of the world’s supply chain would allow UK businesses to find high quality supplies at competitive prices and lower trade barriers. And these trade barriers would also translate to UK sales into the region.

Are there any other advantages of the UK being a member?

In addition to support for UK businesses, CPTPP countries will have the same opportunities as domestic businesses when investing in local projects. Given that in 2017, its members accounted for £1 in every £12 of foreign investment in the UK, we expect cross-border investments to continue to grow.

Anything else?

The UK government says that being a part of a dynamic, fast-growing region, with easier trading agreements, will provide potential for future economic growth. This is especially relevant for countries such as Malaysia and Brunei that, so far, do not have an FTA with the UK. There are also the distinct possibility that other economically buoyant countries such as South Korea and the Philippines will join.

What about USA?

Trump withdrew the US agreement to join when elected in 2016 and President Biden, while initially being warm to the idea, has now said it’s on hold for the time being. Should the US change its mind, then this could potentially open a back door trade deal between our two countries. This would then mean that the enlarged CPTTP would account for more than 40% of global GDP – a major force in world trading.

What does membership mean for UK businesses?

As we’ve been saying for some time, this region offers many trading advantages for UK businesses. Malaysia, for example already has a well-established trading route with the UK as well as a strong willingness to do business with us.

At present, the UK does not have an FTA with the country, but would have as a member of the CTPPT, thus increases the opportunities for local businesses. It’s a growing market with low labour costs, highly skilled workforce, and a diverse range of suppliers.

For UK companies looking to source goods or establish a supply chain partner there, the outlook certainly appears promising.

Global purchasing is on the increase and the Pacific Rim is going to be on most importers list. The challenge for local businesses, especially under the current Covid restrictions, is how to ensure supply reliability, consistent product quality and a trouble-free smooth delivery.

This is where Mosaic International can help. We can help you start the process of determining which part of the region your products could enter, who your suppliers should be and how to exploit these opportunities. The reality is this is a medium to long term project – and if you don’t start, you’ll never reap the benefits – as they say: while it is never too late, it is also equally true that it is never too early to start!

If you have suppliers, but you are struggling to carry out audit inspections, we offer a physical supply chain auditor that is ‘on the ground’ in the local territory. We already have an established service in Malaysia, and this will only be expanded throughout the CPTTP region in due course.

For more information about our localised supply chain, visit the supplier auditing pages of our website or contact Kiley Tan on 07885 784783 or kiley.tan@mosaicint.co.uk

The post Life after Brexit? Yes, in the CPTPP appeared first on Mosaic International.