More Small Firms Than Ever Expect Exports to Rise
FSB has called for the UKTI to raise awareness of the help on offer
The number of small firms looking to export their goods or services is at a high, according to research from the Federation of Small Businesses (FSB).
Findings from the FSB’s quarterly business index found that a net balance of 24% of FSB members expect exports to rise in the next three months.
The sectors most likely to export are Manufacturing (42%), Wholesale trade (41%), Research and Development (36%), Engineering (34%) and digital/telecoms businesses (25%).
The FSB has called for the UKTI to focus on tailoring and promoting their products and services to small and micro businesses. Only 50% of FSB members who currently export are aware of the services UKTI offers. In the longer term, the business organisation has said it wants to see a move towards a Small Business Export Support Department within a UK Small Business Administration (SBA).
John Allan, National Chairman, Federation of Small Businesses, said:
“Small businesses will have a major part to play if the Government is to meet its challenging targets for 100,000 new exporters and to double the value of exports by 2020. Starting to export is a big step for small firms. They therefore need tailored advice and support which will allow them to overcome the barriers to exporting that have been repeatedly identified by our surveys. There is also a major job to be done to raise awareness of the support UKTI offers small firms thinking of starting the export journey.”