SMEs should embrace exports say WorldFirst

By Dan Wilson October 3, 2016 - 2:30 pm

There’s an interesting new report out there from World First. It’s called: Thinking Global: The route to UK exporting success. Click on this link to find out more.

I think we all know that exporting is a vital next step for online sellers and plugging into marketplaces is a good start. But it seems that so many ecommerce SMEs are not embracing the opportunity.

Here are the headline findings from the report:

– Less than a fifth of UK SMEs currently export compared with over 40% of large businesses leaving a £141.3bn export shortfall in the UK economy
– This more than the combined UK Government budgets for health and defence in 2015/16.
– Only 5% of UK SMEs have plans to start exporting in the next five years
– Over two fifths of SMEs say Brexit will hinder their ability to export
– The typical UK SME exporter generates over £287,000 from exports each year
– The UK ranks in the bottom five across European economies when it comes to the share of SMEs among exporters

Jonathan Quin, CEO and Co-Founder of World First said: “The value of the export opportunity to the UK economy is enormous and so much more needs to be done for the UK to fulfil its potential as a trading nation. But with only 5% of UK SMEs considering exporting over the next few years, it is clear that the UK’s SMEs need much more in terms of inspiration and support to seize the growth opportunities that exist in global markets. The creation of a Government Minister for Scale-ups would go a long way in supporting businesses in their international development and drastically improve this figure.”

Well worth a read.

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