Business, Freight News

Small firms in the vanguard of UK export drive

[ February 13, 2017   //   ]

More than 63% of British small and medium sized enterprises are exporting, taking advantage of declines in the value of the Pound, according to the latest FedEx SMEs Export Report.

It also reveals that the digital economy proves to be an essential enabler allowing SMEs to take advantage of international opportunities, with many increasingly embracing new technology and processes.  More than eight in ten (81%) of UK exporting SMEs generate revenue through e-Commerce and almost a third (30%) have reported increased revenues over the last 12 months.

The report also showed that 86% of exporting British SMEs trade within Europe while 63% export outside of Europe.  A third stated that their logistics providers are helping them to respond to new market trends and developments.

Ed Clarke, managing director, UK ground operations at FedEx Express added that there is been more willingness from SMEs to export to markets which are seen as difficult to enter. For example, 38% of British SMEs export to the US – making the country the top export market outside Europe – despite the unique challenges associated with the country, including its vastness, regional differences, and strong competition.  Other countries SMEs are exporting to which can be difficult to enter include Canada, India and Australia.