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A guide to doing business in the UK

07 July 2023 | By Victorian Chamber of Commerce & Industry

A new report has been developed to assist Victorian companies seeking to expand and explore new opportunities by exporting to or investing in the United Kingdom.

Developed in partnership with Global Victoria, The Australian British Chamber of Commerce and the UK’s Department for Business and Trade, Doing Business with the UK: A Guide for Victorian Companies was designed to help Victorian businesses win new job-generating contracts in the United Kingdom.

Doing Business with the UK provides insights into the UK’s regional and sector strengths and tips to break into lucrative markets, providing a deeper understanding of the diverse opportunities available, and offers practical advice on how to effectively export products or establish operations within the UK.

It addresses key considerations, market entry strategies, regulatory frameworks, and tips from industry experts who have navigated the British market successfully.

The guide is timely following the recent launch of the Australia-United Kingdom Free Trade Agreement (A-UKFTA), which improves trade conditions for exports and imports and the movement of young and skilled workers in both directions.

Key data shows:

  • The UK is a growing export partner for Victoria with two-way trade valued at $2.7 billion in 2022
  • Merchandise exports to the UK jumped by 12 per cent last year following a 26 per cent increase in the preceding 12 months, led by sales in seeds/fruits, perfumery and cosmetics, and meat
  • Sales of meat (excluding beef) doubled last year alone and seeds and fruits exports jumped 75 per cent
  • The UK is Victoria’s second largest source of foreign direct investment. Between 2017 and 2022, 95 UK investment projects in Victoria generated $4.6 billion in capital expenditure and created almost 7,500 jobs.

The UK is one of our great trading partners and with strong support Victorian exporters are increasing their footprint year after year.

Selling into massive markets like the UK creates jobs at home and that’s why we are backing our exporters – Minister for Trade and Investment Tim Pallas

A case study in the report, Victorian skincare company Ultra Violette is one such Victorian export success story that now has 26 products selling in some of the UK’s leading retailers including Cult Beauty, SpaceNK, Net-a-Porter, Harrods and Sephora.

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