Small Business Exports

Exports for UK Small Businesses Up 6% on 2014

Exports for UK Small Businesses Up 6% on 2014

UK small enterprises saw a rise of 6% in export payments from Europe from 2014 to 2015 , according to the new Barclays’ Business Abroad index. Of the top 10 export destinations for UK small businesses, four-fifths were in Europe. Germany was found to be  the top export destination for UK small firms with a 6% uplift on trade in 2014  – followed by France (+19% uplift) and the United States (+2% uplift) in second and third place respectively. The index also found growth in exports from the UK’s retail and manufacturing businesses in 2015, up by 36% and 10% respectively compared to 2014, despite a difficult year for the manufacturing sector. Exports to China from the UK continued to grow at a steady rate, up 21% in the same period. Steve Childs, head of international for business banking at ... »

Almost One Million Small Businesses Plan to Trade Overseas by 2025

Almost One Million Small Businesses Plan to Trade Overseas by 2025

880,000 small firms plan to expand overseas by 2025, making exporting the second biggest element to small business’ growth strategies, according to research by Everline and the Centre for Economic and Business Research (Cebr) as part of its Small Business Tracker. Despite ambitious export plans, Confederation of British Industry (CBI) data shows that small business exports are at their lowest rate since 2009 with 46% of companies having revealed that their export levels have fallen with many citing price constraints as the main cause. Hiring more staff was found to be the preferred method of growth among small businesses, with 39% small firms naming recruitment as integral to their expansion plans. Regarding exporting, responses varied according to region and industry. London-based busines... »

Europe Remains the Top Export Market for UK Small Businesses

Europe Remains the Top Export Market for UK Small Businesses

UK small business transactions with Europe rose 59% to a staggering £198m in October 2015, indicating that UK company still rely heavily on Europe for overseas trade – research from World First has found. The UK’s reliance on European trade clashes with David’ Cameron’s recent mission to open up trade with China and has also raised concerns in light of the ongoing Brexit discussions. While small business trade with China has increased, with the amount of sterling traded in for yuan rising by 238% to £7.25m last year, UK companies still conducted 22-times more transactions with European markets. Chief economist at World First, Jeremy Cook, commented: “It’s clear that any decision to re-evaluate Britain’s relationship with the EU needs to be carefully considered given the volume of tra... »

Small Businesses Export Rates Hit Lowest Level Since Recession

Small Businesses Export Rates Hit Lowest Level Since Recession

UK small business export orders are at the lowest level since 2009, with domestic orders also down for the first time in two years – new research from the Confederation of British Industry (CBI) has found. The data revealed that almost half (46%) of small businesses say their export rates have fallen, with only 10% of firms experiencing an increase. Small business owners attributed the fall in exports to pricing constraints and 12% believe that export prices will continue to fall over the coming months. The survey, which featured small business manufacturers, also found that small business confidence is down with 29% of respondents admitting they are less optimistic about the situation of their company. The news comes with just one week until the UKTI-backed Export Week, which is a week-lo... »

Export Enterprise Finance Guarantee Scheme (ExEFG) Helps Small Business Exports

Small firms struggling to access finance to start exporting will be able to apply for loans of up to £1 million from April 2011, under a Government-backed lending scheme. The Export Enterprise Finance Guarantee Scheme (ExEFG) has been set up to help small businesses “compete and win business overseas”. Any small firm that is unable to get a commercial loan to export, and has a turnover of less than £25 million, will be able to apply. “Businesses will apply in the same way they would apply for the Enterprise Finance Guarantee Scheme.” said a spokesman for the Department for Business, Innovation and Skills (BIS). “When they go to the bank for a regular loan and they’re not eligible then the bank should offer this as an alternative. To be successful with the application, bus... »