Business exporting can provide an excellent opportunity to expand your customer base and increase your turnover, by exploring the overseas marketplaces. The federation for Small Business (FSB) published a report, showing that just over 1 in 5 small businesses are involved with exporting, but interestingly the same amount would consider exploring exporting for future business.
Having already established your business in the UK market, there is fantastic potential to grow your revenue and profit by exploring the opportunities to trade internationally. UK products, services and expertise are constantly in demand across the world. There are opportunities, both in traditional established markets such as Europe and the US, and the high-growth economies of countries such as China, India, Brazil and Russia.
UK exporting businesses can see an average increase of 34% in productivity in their first year of exporting. These businesses are 11% more likely to survive and they can benefit from operating in a more competitive environment; attracting and providing more opportunities for higher skilled workers or increasing their workforce to offer more jobs.
Before you start, you need to have sound knowledge of your would-be or target markets. You will also need to consider whether your products are right for each target market and whether you have the necessary resources to start exporting.
A wide range of support services exists to help UK exporters and would-be exporters to tackle virtually all of the issues and challenges. Take a look at our advice and grant scheme finder for details of support to begin your export journey.