Many small businesses have big ambitions to grow overseas

A new survey shows that over a third of UK SMEs who don’t already export overseas would consider doing so in the future.

And it’s the smallest businesses in particular that are showing the greatest interest in international trade.

That’s according to the FSB’s recent Ready to Dispatch report, which made suggestions on ways to unlock export growth within the small business community.

FSB Policy Chair Tina McKenzie, said, “You cannot get GDP growth without powering up small business exports. The untapped export potential within the small business community is immense but also provides the perfect ingredients to kick start wealth creation, supercharging measures in the Government’s refreshed pro-growth across public policy. This will need a real focus within the upcoming Trade Strategy White Paper and the Spending Review in June.

“Small firms that export tend to be the most profitable and innovative businesses. Our research shows clearly the big ambitions of small businesses – especially the smallest ones with the fewest resources – to grow overseas.”

Tina added, “While strengthening relationships with key trading partners such as the US and the EU, restarting Free Trade Agreements talk with India, and better connections to emerging markets through airport expansion are all welcomed measures, there is a group of aspiring small exporters hoping to enjoy the benefits as these commitments get materialised in future – all they need is a springboard to new markets.

“Our members tell us better government export support will enable them to get their foot in exporting, and they most value tailored help. Allowing start-ups and the smallest businesses to access bespoke support will help grow our exports and the overall economy.

“The UK and EU must also look to address the unintended consequences of the Trade and Cooperation Agreement on small business and remove unnecessary trade barriers in the upcoming review in 2026.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.