Posted on: 13/07/2018
47% of UK SMEs predict that they will see an increase in turnover generated from their export activity in the next year, according to data from Smith & Williamson.
This increase follows the update from HMRC in June, confirming that the number of UK companies exporting goods has risen by 4% since last year. This is good news for the future growth of UK businesses, suggesting they remain confident about their exporting futures.
Businesses with 50-250 employees are considered to be the most confident:
61% predict an increase in exports over the next year; 14% of which predict their turnover will increase by more than 50%.
It seems that businesses with fewer than 49 employees are not as optimistic about the outlook:
34% predict an increase in exports over the next year
The value of exports from England is up by 6.5% on last year according to June data from HMRC. This is a positive trend for the UK, as more small businesses are seeing the benefits of expanding into overseas markets, therefore creating a stronger economy through increased economic growth and employment.
Supporting small businesses to export
Working with the UK government, Exemplas delivers the Department for International Trade service across the East of England and Yorkshire & Humber, helping UK SMEs to seize the growth that exporting can bring through our advisory support.
Vanda Priestley, International Trade Adviser for the Yorkshire & Humber region comments: “Exporting can bring many key benefits to a business, such as increased sales and profits, enhanced domestic competitiveness, company recognition in the global marketplace and diversification which allows companies to diversify their business and spread their risk.”
“The top target export markets for Yorkshire businesses remain solid with the USA, Germany, France, China and Australia. However, more and more of our clients are confident in exploring new markets such as the Middle East and Latin America, suggesting the region is optimistic about the benefits exporting can bring.”
Find out more about our experience of supporting small businesses to achieve growth through working with the public sector.