Small UK traders give Australia the thumbs up » SMEInsider

Small UK traders give Australia the thumbs up

Nearly a quarter of small UK suppliers trading overseas say Australia provides the biggest opportunity for export sales growth, according to a study by Royal Mail.

The survey of more than 300 SMEs selling goods overseas found that Australia and the surrounding territories was a key growth area, with one in four sending goods to the continent.

 

Australia growth is key

This is in stark contrast with 2015, when just 5 per cent of small retailers believed Australia was the key to export growth – an increase driven by the desire to expand beyond Europe and with affluent, English-speaking nations.

Europe is still the main destination of retail exporters, the poll found, with half of respondents trading there. Sales are slowing, however, due to suppliers searching elsewhere for growth as a result of Brexit fears.

The trend is echoed by analysis conducted by eBay, which unveiled Australia as the second-largest export market for UK SMEs trading on the online platform. The US came top.