Department for Business & Trade’s offer to support Scottish companies and SBN members

With quarter two of the fiscal year just starting, this is an excellent moment to think about your next growth market. Whether you are looking for a young demographic; markets open to new tech; a growing middle class; large urban populations; an abundance of raw materials- now is the time to consider the possibilities in Latin America and the Caribbean. More than a continent and more than meets the eye, this dynamic region could offer long-term prospects for SBN members.

SBN members can access a network of international trade specialists in 18 markets across Latin America and the Caribbean (LATAC) based in the UK’s Embassies; High Commissions and Consulates; to give you on-the-ground support.

According to HMRC data, Scotland exported £1.1 billion worth of goods in 2022 (15.9% of all exports from the UK to LATAC)¹ making it the most profitable part of the UK economy where LATAC is concerned. This shows that Scotland and its services and goods have a lot of potential in this part of the world.

Many Scottish companies are doing successful business here. Well-known brands include Aggreko who are helping supply power in several markets with their power generation systems, Whittaker Engineering provide energy engineering services in Mexico, Robert Gordon University offers training on renewable energy, Alexander Dennis’s iconic red double-decker buses are on the streets of Mexico City and Walkers Shortbread is popular in several countries.

Scottish companies of all sizes can open their next market in LATAC. The Department of Business and Trade, (DBT) complements the work of Scottish Development International and whether your business is in tech; infrastructure; life sciences; education; consumer goods; agriculture or anywhere in between there is an opportunity for your company.

Talk to the DBT’s International Market Team: exportsupport.latac@fcdo.gov.uk who can help your business take the next step. The team can help with free advice on where there could be opportunities for your business, market information, tips on market entry, as well as connections to third-party providers if you need support with a specific area outside of government’s remit such as HR or legal services. If you want to expand your business - reach out to find out more.

^{1Trade and investment between the United Kingdom and the Latin America and the Caribbean HMTC region (LatAC) as reported by the UK. DBT group trade and investment factsheet. Published 15/06/23. Accessed 03/04/23.}