A Midland software company is to open a new office in China after signing a contract with Hong Kong's international flag carrier.
Tamworth based FLYdocs, which supplies software and technical services to the aviation industry, has agreed a deal with Cathay Pacific Airways to be the sole provider of records management and other services across its entire fleet.
This means setting up a 27-strong team based in Xiamen, China to service the contract.
FLYdocs was set up in Wishaw in 2008 by husband and wife team Anne and Adrian Ryan with just three staff.
The company, which recently moved its headquarters to Fazeley, now employs more than 100 people in Staffordshire, the US, Philippines, India and China and is doubling its turnover year on year.
It also recently secured a contract with the second largest leasing company in the world, International Lease Finance Corporation, a wholly owned subsidiary of American International Group, to support their records management. Anne Ryan, FLYdocs finance director, said: “We‘ve achieved these contracts despite fierce competition from our competitors – many of whom are larger, long-term players in this industry.
“International trade now makes up 70 per cent of our turnover and we aim to increase that still further in the coming year.
“We’re recognised as the best in the world at what we do and we’re aeons ahead of our competitors in terms of the functionality of our software.”
Another Midland company exporting its services to a high growth market is Birmingham digital marketing company Wow Internet.
The business has looked at expanding into the United Arab Emirates over the last two years and in February signed deals with government agencies in Dubai for more than £75,000 worth of business, with another £3 million to come this financial year.
Wow chief executive Qasim Majid said: “We see this region as fertile ground where we can establish an edge in this new and growing market. “Our priority has been to build a solid sales pipeline before we fully committed time, energy and investment into setting up a new business. “With the help of the UKTI team, we carried out research and generated sales at the same time.”
Mr Majid, who has also managed partnerships in countries including Ukraine and India, said a great emphasis is placed on personal business relationships in the UAE.
“UAE companies want the best, but be prepared to negotiate on your prices,” he said.
“Typically the first price you put in, will not be the price the client will pay.
“Respect the culture and be prepared to have a laid back approach to doing business.”
While developed economies struggle with financial uncertainty and slow recovery, economic growth continues in these emerging markets.
Exports made up 92 per cent of output in the first quarter of 2013.
Paul Noon, UKTI West Midlands regional director, said: “The Midlands increased its exports by six per cent last year. I want to see an increase of ten per cent year on year at least.
“While most exports are slowing down the high growth markets are where firms are seeing a real difference, despite Europe being flat and contracting a little.
“The high growth markets are very much a marathon rather than a sprint. You don’t necessarily get a return instantly.
“It’s not overnight but the returns are immense. A great example of that is JCB in Brazil and JLR in China.
“These markets are less similar, they’re more distant, the rules and regulations may be more complex, we may not have the experience, but UKTI can support them.
“British products are seen as high quality, particularly in the Middle East and there’s a real tendency to buy British.
“There’s been big growth over the last four to six years and these markets are going to grow quickly and come into our sweet spot in terms of needing our products.”
For more information visit www.exportweekwm.eventbrite.co.uk.