IT appears more of us are opting to stay in the UK for our summer holidays, with exchange rates and the credit crunch giving rise to the trendy concept for a 'staycation'.

While we opt to spend our time and money in Britain, overseas destinations for business can still be an attractive proposition.

With the strength of the UK pound weak against other global currencies, UK manufactures still say that demand for their goods and services is still strong.

Despite the economic downturn and a decline in oil prices since the peak of last summer, the Gulf remains committed to substantial growth.

As a result there are opportunities for businesses in areas such as Dubai, Bahrain, Qatar, Abu Dhabi and Saudi Arabia.

For some, these opportunities will be out of reach, possibly even inappropriate, but they do serve to illustrate in the present climate that for those business undertaking international trade. It might be an aspect of your business to focus on.

Over recent years a strong pound has certainly suppressed and even curtailed the potential for many to develop in export markets.

Whilst it would be naive to think export markets can provide a quick fix or an easy route to increased sales, the time might be right for existing exporters to look to exploit opportunities, and for those looking to export, to explore international business including possible markets to enter and the way to approach them.

Meaningful business opportunities exists for UK companies which provide products or services that can demonstrate a competitive advantage, be that in terms of their products or services.

Success for those companies looking to develop overseas markets centres around having and knowing what makes their offer unique and what constitutes their commercial advantage or attractiveness to customers.

Just as much as in the home market, overseas customers are looking for their need to be fulfilled by suppliers who differentiate themselves with a demonstrable competitive advantage or provide something not already available to them.

For those businesses that feel they can tick these boxes the international market could be for them and now could be the time to look at exploiting market opportunities.

Indeed exporters and potential exporters may benefit from assistance from the UK Trade & Investment's Export Marketing Research Scheme which helps and encourages UK businesses to undertake marketing research prior to developing a strategy for market entry or further investment in an overseas market.

Whether your business has established international links, or you are looking to enter overseas markets for the first time, it is essential to consider the financial and tax implications.

Many a venture can come unstuck with out the expert advice from those that have experience of international business and the tax regimes of the countries or trading zones in which you already, or seek to, operate in.