Over half of UK SMEs export goods and services to the US – more than to any other country in the world, according to research by Barclays Business.
European countries rank close behind, with 53% of UK SMEs exporting to France and 51% to Germany. The research suggested that a third of UK SMEs reach their domestic trading limit within just three years, and this figure is growing fast.
Unsurprisingly, 35% of respondents said that their website played a key role in attracting overseas clients, whilst 30% cited online payment capabilities and 13% social media use.
“What is evident is that the world of digital has brought export markets closer to home for small businesses – being able to take payments online as well as using the digital channels to market open up opportunities for businesses that may have previously been harder to take up,” said Steve Childs, head of international at Barclays Business.
“We see a number of businesses export almost as soon as they open, due to natural demand from overseas markets, online and through social media.”