export

Almost Half of UK Small Businesses Fail to Sell Abroad

Almost Half of UK Small Businesses Fail to Sell Abroad

Just 56% of UK small businesses are selling to customers abroad despite ‘extraordinary’ demand, according to a new report by PayPal UK. The survey of more than 1,200 small firms in major online retail markets found that while 86 million international shoppers bought from UK businesses in 2015, only 35% of domestic small enterprises plan to start selling internationally in 2016. The high cost of shipping goods (25%), and custom and duties (20%) were cited as the main potential barriers for small businesses entering the international market. In comparison, 64% of online French businesses now sell abroad while 61% of Spanish businesses trade overseas. North America is the UK’s second largest market and generates 20% of UK online sales, followed by Asia with 6% of international sales. Simon Mo... »

One Fifth of Small Businesses See Exports as Biggest Source of Growth

Survey reveals exports make up at least 10% of sales for over half of small businesses with a fifth stating overseas sales account for over half of total transactions An independent survey commissioned by financial and business software provider Exact reveals 19% of UK small businesses see exporting as the biggest potential source of growth. The study, which consisted of 453 small and mid-sized businesses, revealed that 68% of small and mid-sized businesses watched exports grow last year, and 54% are now currently selling products or services abroad. The report comes in light of businesses stating that they are generally optimistic about growth this year. Exporting proves to be a growing source of revenue for small and mid-sized businesses, with overseas sales now amounting to at least 10%... »

Smaller Businesses Struggle with High-Growth Markets

A new survey by the British Chambers of Commerce (BCC) shows that smaller firms need more government support to help them trade with high-growth markets. The survey of more than 8,000 businesses suggests that UK exports are held back by a focus on traditional markets, such as the EU, at the expense of larger, faster-growing economies. When asked where they export to, 88% of respondents sell their products or services to the EU. This compares to 47% of businesses that export to BRIC countries (Brazil, Russia, India and China), and 55% to other Asian and Middle-Eastern markets such as Thailand and Saudi Arabia. However, while nearly three-quarters (73%) of large firms trade with BRIC countries, only a third (32%) of micro firms do business in these markets. John Longworth, Director General o... »

How to Research Export Markets

How to Research Export Markets

Exporting is one of the biggest steps your business will take, so it is vital you do your homework. Exporting to a new market will be one of the most difficult and risky tasks your business will have to undertake. Exporting introduces a whole host of unknown variables into the equation, so it is absolutely vital you do your homework first and thoroughly research the market before you commit. This article will help you conduct the research process in a structured and thorough manner, ensuring your first-time export operation maximises its chance of success. We cover how to identify markets with strong potential, assess whether your goods and services will fit, how to find and brief a research agency, and more. How do I identify potential markets for export? Follow these steps: Define your c... »

Exporting: The Business Benefits of Trading Internationally

Exporting: The Business Benefits of Trading Internationally

The benefits of exporting can allow companies to: Achieve levels of growth not possible domestically. Increase the resilience of revenues and profits. Spread business risk. Achieve economies of scale not possible domestically. Increase the commercial lifespan of products and services. Increase the returns on investment in R&D Improve financial performance. Improve productivity. Boost their profile and recognition internationally.. Exporting: It’s time to go global Have you ever thought about doing business in overseas markets? If not, or you thought it too difficult, then you might want to think again. Exporting can help you survive and grow. There are real opportunities to trade internationally; UK products, services and expertise continue to be in demand across the world. There are o... »

Exporting: Why Should I Export?

Exporting: Why Should I Export?

Why Should You Take the Export Plunge? UK companies which export are responsible for 60 per cent of national productivity growth and more than 70 per cent of UK business research and development. This helps to give them a technical competitive advantage, leading to more sales and opening new markets. Doing business overseas is a different experience for every company and its benefits will vary greatly depending on the personal profile of each firm. As well as opening access to new sources of revenue, trading internationally will allow you to spread risk across a wider range of customers, extend the market for specific products and ensure that you are aware of international competition. In some cases companies are able to offer much more interesting roles for their staff, and to recruit bet... »

Small Traders Urged to Double-check Exports to Middle East

Following political upheaval in Bahrain and Libya, the Government has ordered an urgent review of export licences for traders shipping goods to both countries. Despite the trouble, the Middle East remains an important export market for the UK. But the deaths of anti-government protesters in Bahrain’s recent unrest have provoked a formal review of British exports in the region’s trouble spots. While in the past year various goods, including tear gas and crowd-control equipment, have passed export checks and been licensed, changes in the political situation mean that arms exports are now illegal. By law, it is up to traders to check their goods with the authorities. And crucially for small firms, exports that may not obviously have a military or political use may now need stricter scrutiny b... »

40% of Small Businesses to Trade Overseas in 2011

Four out of ten small businesses are planning to trade overseas next year, research from O2 has revealed. The survey of 500 business owners in November 2010 found that 40 per cent were looking to trade abroad for reasons including better prospects for growth in foreign markets, a lack of UK customers and the weak value of sterling. O2 spokeswoman, Daisy Swan, said that the figures included firms that would sell to overseas customers through their websites. “Many of these firms will stay in the UK but utilise their contacts online to take opportunities abroad, due to advances in technology,” she said. “They don’t necessarily have to have a base out there.” John Lucas, trade policy adviser for the British Chambers of Commerce (BCC), agreed that more small businesses w... »

UK Trade Gap Narrows

UK Trade Gap Narrows

Figures from the Office for National Statistics show a surprise fall in the UK’s trade deficit, dropping to an 18-month low in December 2008. The total UK deficit on trade in goods & services combined was down from £4.0 billion in November to £3.6 billion in December. Splitting these two main areas up, there was a surplus on trade in services in December; down from a surplus of £4.1 billion (in November) to £3.8 billion. The deficit on trade in goods was down from £8.1 billion (Nov) to £7.4 billion (Dec) Whilst the figures seem encouraging for just one month the positive stems from a "weakness in imports rather than a strength in exports." according to a comment on the BBC with Howard Archer from Global Insight, the world’s larg... »

Look Further Abroad for Opportunities

The British Chambers of Commerce (BCC) and UK Trade & Investment (UKTI) are encouraging firms to look further abroad to seek out opportunities. With the Treasury forecasting in its Pre-Budget Report that growth in the UK’s traditional export markets of Europe and the US will slow[1], the BCC and UKTI are encouraging firms to look overseas and seek out opportunities where they exist. However a business must do its homework on the market first. John Dunsmure, Managing Director of the British Chambers of Commerce said: “There is so much economic and political uncertainty at the moment. Many companies are very concerned about their future. Whilst we are not celebrating the falling rate of the UK pound there could be some competitive advantages to be gained by companies wishing ... »