Guest Lecture

Question 1

Definition of International Trade advisors (ITAs)

Answer 1

International Trade Advisors (ITAs) support UK businesses, particularly SMEs, in growing internationally through exports.

They are part of the UK Department of Business and Trade, aiming to boost local economies via job creation, economic activity, and tax contributions.

Question 2

Key responsibility of International Trade Advisors

Answer 2

Business Diagnostic:

1️⃣Assess firm health (manufacturing, HR, finance).
Use a questionnaire-based reflection process to guide management insights.

2️⃣ Access to Resources:
Provide trade finance support information.
Assist with market research in foreign locations.
Leverage Government resources like trade missions and Embassy staff.

3️⃣ Export Compliance and Legal Support:
Advise on export documentation and compliance measures.
Guide firms on navigating foreign legal systems and accessing legal support internationally.

4️⃣ Risk Awareness:
Identify and mitigate risks associated with internationalisation.
Provide strategic advice to ensure smooth market entry.

Key Takeaway:
International Trade Advisors play a pivotal role in facilitating SME international growth by combining diagnostic tools, financial advice, legal guidance, and access to Government-backed trade resources.