Going global is the key to growth

9th October 2012

SMEs trading overseas are experiencing an average growth of 30% when they have been exporting for only two years – according to a new survey from Barclays.

The survey, of 1500 UK SMEs, also reports that 29% are enjoying an improved bottom line – just six months after broadening their trading horizons abroad.

And with 31% pointing out that increases in trade abroad equals staff recruitment at home, the message is clear: international trade is good for UK plc.

With the current uncertainty in the Eurozone showing no signs of easing, markets in the Far East and beyond are top of the list for those with an eye on exports.

In fact, nine of the top 10 places targeted are outside Europe – with the likes of Hong Kong, India, China and Australia among the favourites

The UK Government has stated a desire for more and more UK companies to export and wants to see an extra 100,000 doing so by 2020. UK Trade & Investment has a number of free resources available to get SMEs started on the path to becoming international exporters and recently announced a £13 million help package.

Taking advantage of free advice and financial resources will get you so far, but having the infrastructure and ability to take advantage of your opportunities is just as important.

Technology can play a significant part in that infrastructure. A good website, effective product descriptions, clear terms & conditions and secure online payment capability are some of the ways that technology can put SMEs in a better position to trade abroad.

Time differences, especially on the other side of the world, mean that the 24-hour presence of a good eCommerce platform cannot be underestimated.

For more information on exporting from the UK, visit:
HMRC
UK Trade & Investment
Business Link
Foreign & Commonwealth Office