UK Trade Consultancy: Essential in Post-Brexit World - Essay Sample

Rugman (2011) says that Import and Export Trade Consultancy is an essential part of the United Kingdom's trade. Venturing in the consultancy sector under the Import and Export segment would be ideal since Brexit has added significant difficulties when it comes to importing and exporting goods and services. Before the Brexit, all imports and exports were under the European Union Law. Portes (2013) argues that with the United Kingdom leaving the European Union, these laws will change. Therefore, this change becomes dramatic for some businesses that may not know how to go through these changes. As Brexit is implemented, starting an Import and Export Consultancy firm will help small and medium-sized entities live per the new laws. This business venture, which will grow tremendously as the most small-scale and medium business, will seek consultancy to avoid making losses when importing or exporting goods and services. If this venture becomes successful, venturing on offering broader consultancy services is something considerable, like financial management consultancy services.

Is your time best spent reading someone else’s essay? Get a 100% original essay FROM A CERTIFIED WRITER!

Order now

This business is created to offer consultancy services to importers and exporters specifically. The business is unique in that it will be offering services twenty for hours in seven days and will reach out to even the smallest business people who are mostly not reached out to by other such firms, thus having a competitive edge.

Since the business will be offering Import and Export consultancy services to small and medium-sized companies, there is a potential for the growth of the market. Thirlwall (2015) says that high possibility is because these businesses will keep increasing in the United Kingdom. Other segments of the market that could benefit include the United Kingdom government and other large companies who may seek consultancy services before making an import or an export. Many businesses venture in exporting and importing goods and services.

According to Pindyuk (2019), Import and Export Trade Consulting Firm is a business that is likely to grow to a considerable firm that will offer services all over the United Kingdom. The market is also likely to grow very fast in the next three years or even less, and therefore huge capital will be put into the venture to ensure there is no running out of resources such as human labor to offer the services. With the entrepreneurial nature of the United Kingdom people and the ever-advancing technology, the business is likely to be skyrocketing. Local regulations will be made from time to time; hence the firm will have many services to offer.

Pindyuk (2019) says that the business venture in the consultancy industry has been widely done in the past in the United Kingdom under different categories. These include Financial Management Consultancy and Technological Consultancy. Entering the market might seem easy, but the real organization and kick-starting operations in this industry have proven somewhat tricky due to the large capital requirement and stiff competition from existing firms. Wang, Feng, and Chai(2018)argued that the business consulting industry is an attractive one as there are higher chances of getting customers fluently. Getting into this business in the category of Import and Export Consultancy segment has been persuaded by Brexit, and there is a very high likelihood of success.

There is a likelihood that other entrepreneurs will enter this market and try to get the advantage of my business. This trend is usual in the entrepreneurial world, but other firms will not outdo me because of the measures I will use. My competitive advantage measures will include hiring high-quality personnel to offer the best counseling to our customers. I will also maintain high standards in the business, be motivating employees regularly to push them to work smartly, investing adequately to avoid collapsing, and working for the interest of the customer every time unless when I will be unable.

I am sure that my initial capital investment in this business will sustain the company for at least six months. I will use 200,000 Euros to get offices, employ staff, advertise and train employees, and pay salaries for the first six months. At this time, the business will have started recouping back the invested capital, thus sustaining itself. I will have at least 40,000 Euros operating capital, and I am sure the gross margins from earnings will get support from all angles. All employees will get salaries immediately when they are due to ensure they don't get porched to other firms or decide to bring down the business. Customers are likely to bring income as soon as we start offering the services because there is a vacuum.

Service delivery is our passion, and starting this business will give my team and me a chance to interact with people offering them consultancy services. This strategy is a business that I want to grow to help the whole world under consultancy services. I am ready to put the extra bit of hard work and take risks to see its success. Welfens (2019) argues that changes will always be there, like risking personal money, risking family time, among others, which arise from time to time. However, with determination, I am hopeful that we will witness the success of this business.

Ebitu Ufot and Olom (2015) argued that proper customer relations, marketing, responsiveness, and operations as our Critical Success Factors. As a team, we are sure that we can execute them fully to achieve the best for the business. If done poorly, a factor like customer relations will lead to the company going down even if everything is okay. Kalra, and Soberman (2010), sometimes marketing can be done poorly, but still, the business runs smoothly. Considerably, with the team I have, we are entirely determined to reach the highest level in this business and be a Global leading consultant firm soon. The team is ready to make the best of the Critical Success Factors through self-motivation and working tirelessly and selflessly. Our business looks upon the BCG consultancy firm in the value chain. Drope (2015) said that BCG has emerged as the best among the numerous similar organizations in England.

We will need supplies of stationery materials, and we will rely on Fashion Office Ltd of Tel: +440302232145 for these. Devon Ltd along Brunel Road and Euroffice are other options for these supplies. UKIT Consultants Ltd of Tell: +4402031967888 and ICS Global Services of Tell: +4401189328447 are our expected competitors. We expect to receive customers from most parts of the United Kingdom, including all cities like Cardiff, Manchester, London, and Newcastle. With this, we believe we will have a full cycle connectedness linking us from our suppliers to our customers, thus enabling perfect service delivery and overall business success.

References

Drope, P., 2015. Multimedia network system with content importation, content exportation, and integrated content management. U.S. Patent 9,047,289.

Ebitu, E.T., Ufot, J.A. and Olom, P.A., 2015. Marketing problems and the performance of selected Small and Medium Enterprises (SMEs) in southern senatorial district of Cross River state, Nigeria. American International Journal of Contemporary Research, 5(5), pp.70-76. http://www.aijcrnet.com/

Foster, K., 2016. A prediction of US knit apparel demand: Making the case for reshoring manufacturing investment in new technology. Journal of Textile and Apparel, Technology and Management, 10(2). http://ojs.cnr.ncsu.edu/index.php/JTATM/article/download/9834/4916

Kalra, A. and Soberman, D., 2010. The forgotten side of marketing. Journal of Brand Management, 17(4), pp.301-314. https://doi.org/10.1057/bm.2009.25

Kipping, M. and Kirkpatrick, I., 2013. Alternative pathways of change in professional services firms: The case of management consulting. Journal of Management Studies, 50(5), pp.777-807. https://doi.org/10.1111/joms.12004

Pindyuk, O., 2019. The future of uk services trade post-brexit: Unlikely to Be Bright (No. 31). Policy Notes and Reports. http://hdl.handle.net/10419/204274

Portes, J., 2013. The Economic Implications for the UK of Leaving the European Union. National Institute Economic Review, 226(1), pp.F4-F9. https://doi.org/10.1177%2F002795011322600110

Rugman, A., 2011. Extending the conversation of international business. Multinational Business Review, 19(4). https://doi.org/10.4324/9780203076569

Wang, X., Feng, Q. and Chai, J., 2018, December. The research of consortium blockchain dynamic consensus based on data transaction evaluation. In 2018 11th International Symposium on Computational Intelligence and Design (ISCID) (Vol. 2, pp. 214-217). IEEE.https://ieeexplore.ieee.org/document/8695561/

Welfens, P.J., 2019. Lack of international risk management in businesses?. International Economics and Economic Policy, 16(1), pp.103-160. DOI: https://doi.org/10.33545/26175754