Huge opportunity to double number of small business exporters - FSB Report
The Federation of Small Businesses has published a new report which reveals the huge opportunity to double the number of small business exporters.‘Destination Export: The small business export landscape’ explores the way small businesses interact with the global export market. The proportion of small businesses exporting, one in five (21%), has remained static for many years. One of the key findings of this report is that the number of small businesses currently exporting is matched by those that would consider exporting (21%).
This points to the huge potential to double the number of small business exporters. In order to tap into this potential, the Government, the private sector, the finance industry and business associations including FSB, must now focus on providing effective targeted and tailored support.
Martin McTague, FSB National Policy Director, said: “Small businesses that export are more likely to survive, grow and innovate. But in addition to more traditional barriers such as language and foreign exchange, businesses are having to deal with a rapidly changing export landscape and the advantages and challenges brought about by e-commerce. Any support must be designed with this in mind and should be able to cater to a wide range of export needs, both for those currently exporting and for those considering doing so.”
This exports report has been researched and written against the backdrop of campaigning around the EU referendum. Given the UK’s decision to leave the EU, ‘Destination Export’ could not be published at a more uncertain time. Maintaining a stable and secure trading environment for small businesses must now be the priority.
Martin McTague continued: “FSB has clearly and consistently called for clarity on what the UK’s exit from the EU means for business, with particular emphasis on access to the single market and the free movement of people and trade. The majority of FSB members export to the single market with provides access to 500 million potential consumers, more than 26 million businesses and is worth around £9 trillion.”
Download the report here