UK SMEs predict oversea turnover to rise

By Sophie Chapman
According to a recent report by Smith & Williamson, 47% of small and medium enterprises (SMEs) in the UK are expecting international turnover from e...

According to a recent report by Smith & Williamson, 47% of small and medium enterprises (SMEs) in the UK are expecting international turnover from exports to rise within the next year, equating to 640,000 firms.

The data also notes that only 12% of companies are anticipating a drop in export-related turnover in the review period.

HMRC recently released findings that the number of UK firms exporting goods had risen y 4% since 2017.

The data suggests that SMEs are not steering away from international trade because of Brexit trade negotiations.

SEE ALSO:

“We have a lot of very ambitious businesses here in the UK who are striving to extend their reach to new markets, whether it’s through finding international customers to sell to or setting up overseas operations,” commented Stephen Drew, Head of International Services at Smith & Williamson.

“Exports from all UK countries are on the rise, so there is a clearly a growing global demand for UK goods and services, despite any complications being caused by the Brexit process.

“Any aspiring entrepreneur with an opportunity to expand overseas should grasp it. Whether they’re early stage or mature, it’s often the businesses that reach across borders and successfully enter new markets that achieve the fastest growth.”

Share

Featured Articles

How technology has improved Health & Safety in manufacturing

Johann Cilliers, Group Marketing Director at Welding Alloys, explains how technology has improved Health & Safety in the manufacturing industry

Nick Dinges, Replique CTO, explores additive manufacturing

Replique’s CTO Nick Dinges shares his knowledge on 3D printing, how localised production can help supply chains & what the manufacturing sector wants

Hanwha to spend US$2.5bn on US solar manufacturing

South Korean chemical manufacturer Hanwha will spend US$2.5bn on US solar manufacturing at Georgia plant, in a new renewable energy push

Hexagon invests in Divergent Technologies digital factories

Digital Factory

India’s smart manufacturing electric vehicle future

Smart Manufacturing

Manufacturing a legacy of safety, sustainability, and skill

Procurement & Supply Chain