Look overseas, SMEs urged

A national initiative has been encouraging businesses across the UK to take advantage of high growth export markets.

Export Week, which ran from 13-17 May, is designed to boost the number of small businesses that export and help meet a government target of getting 100,000 more British SMEs exporting over the next five years.

It is also part of a broader campaign to increase the number of British companies that export from around 20 per cent at present to 25 per cent or more. By increasing the number of companies who export by roughly a quarter, about £36 billion could be added to the UK economy.

According to UK Trade & Investment, UK businesses are already tapping into high growth markets including Brazil, Russia, India, China, Colombia, Indonesia, and Qatar.

Trade and Investment Minister Lord Green said: “Companies of all sizes are increasingly winning business abroad, proving that exporting is not just for the large firms.

“Research conclusively shows businesses that export become more innovative, more productive and achieve a level of growth that would not otherwise be possible. Our future prosperity rests on UK companies doing business abroad.”

Link: Export Week