The PR agency took out a loan from Barclays to set up the business in 1994, by 2010 they were struggling to grow the business any further in the UK market alone. Whatever they tried, they just couldn’t get past the £750,000 mark.
Thinking overseas markets could prove fruitful, Jeff Hayward, Director of Wildwood PR went back to Barclays to get their advice. After attending one of Barclays’ free Export Clinics he decided to focus on the US and, through the Overseas Market Introduction Service (OMIS), was put in touch with a number of potential customers and partners.
Jeff said on the Barclays service: "Exporting has had a huge effect on our business. Two years on from attending the Export Clinic our turnover is now £1.3m, with 40% of that coming from overseas markets. The knowledge and support we got from Barclays has been invaluable. Taking your business abroad can seem daunting – we certainly weren’t sure quite where to start, but their information and support has really given us a kick start into the US market that we wouldn’t have been able to achieve otherwise."
Simon Nicholson, Head of International at Barclays Business banking, comments: “What strikes me about our research is how successful at exporting SMEs are. This is despite 60% claiming to have ‘fallen into it’, or only looking at it ‘when an overseas customer got in touch’. With such high growth opportunities, imagine the possibilities that could come from taking a more proactive approach.
“We are committed to helping UK SMEs trade confidently across the globe and call on them today to think more internationally with their business plans in partnership with their Barclays Business Manager.”