The latest report coming out from FedEx earlier this week states that 63% UK SMEs are exporting, due to the decline in value of the pound. The report doesn’t state the sectors that have contributed to its’ findings, however it does say that 59% of the total revenues are coming from export.
The main reason for this upsurge in activity on the export front seems to be coming from the fact that these SMEs are harnessing the ubiquitous power of the web and e-commerce. Some 81% of them citing this area of their business as the major revenue generator for future growth.
The top markets for UK SME in Europe is France 60%, Germany 56%, Ireland 43%, Spain 39%, Italy & The Netherlands 35%. Globally it is USA 38%, India 20%, Australia 16%, UAE 15% and South Africa at 13%.
Another telling factor or opportunity for more growth is that SMEs still focus 86% of their trade in Europe and only 63% for the rest of the world.
These figures illustrate that there is still a huge amount of opportunity for our economy to expand and grow British Brands across the globe. The UK is 4% of the global GDP, leaving 96% to aim for, so if you haven’t really attempted exporting to reach new markets and diversify your business risk, then wouldn’t now be a great time to start.
Full FedEx report and infographic are available here*.
Mentoring Britain is currently organising over 100 New to Export events up and down the country. We are proud to be in official partnership with the Exporting Is GREAT campaign run by the Department of International Trade (DIT). We aim to inspire businesses through the knowledge of industry experts and the success of others to showcase best practice across the country. You don’t have to be a large enterprise to export – smaller companies are often more agile and can react quickly to opportunities.
*About the FedEx SME Export Report
Harris Interactive carried out 9,000 interviews (including 4500 in Europe) with senior executives in SMEs online and by telephone in 17 markets  spanning four global regions  between August and September 2016. Interviews were split equally by country with a representative mix of company sizes: micro (1-9 full-time employees), small (10-49 full-time employees) and medium (50-249 full-time employees). The sample size was 500 respondents per country, except for the UK which had 1000 respondents.