Export is a key factor in the success of the UK economy. The UK government is always keen to encourage companies to either grow their business overseas or expand their export operations. The Government has set an export target of £1 trillion by 2020 and in order to achieve this level of export activity, persuading the UK’s SMEs (small and medium sized enterprises) to branch out to foreign markets will be vital. Businesses of all sizes trade internationally every day, but small businesses often shy away from export on the mistaken assumption that export markets remain the preserve of much larger businesses.
According to UK Trade & Investment, “Exporting needn’t be difficult. Nor does it matter which country you’re looking at, what industry sector you’re in or what level your business is at.”
But what are the advantages of export, particularly for SMEs?