Small businesses are expanding abroad and reaping the benefits » SMEInsider

Small businesses are expanding abroad and reaping the benefits

International confidence in UK businesses is at a high and many small businesses are using that to their advantage.

A FedEx report, carried out across 26 UK cities, found that the percentage of small businesses that export varies from 66 to 86 per cent, depending on the city.

A number of regional cities defied expectations in terms of global connectivity. At 86 per cent, Bradford was the city with the highest percentage of exporting SMEs in the UK.

Portsmouth SMEs exported £162,298 per month, by far the most of any UK cities. Norwich was second with monthly export sales of £94,733. Derby recorded highest SME export growth rates over a one-year period.

Surprisingly, only under a quarter of SMEs currently trade in US/Canada market with 2/3 electing instead to export to Europe.

The report also presented several significant statistics concerning financial benefits of exporting. 63 per cent of small businesses recorded financial improvements whilst 4/10 companies hired more staff. Over a third of firms said incentivised them to create new products and services. Over a quarter of businesses can now compete with larger companies.

“With the influence and impact of “Brand Britain” our report aims to ensure British SMEs are given the best possible platform and support to succeed, helping to drive our economy forward,” said Trevor Hoyle, vice president of FedEx Express Northern Europe operations