Record numbers of UK firms want to export
New figures released by UK Trade and Investment (UKTI) the government department leading Exporting is GREAT, show a record number of UK businesses interested in exporting through government-brokered opportunities, with over 20,000 responses since November 2015.
The statistics, demonstrate the huge demand for UK products and services overseas. Over 6,000 export opportunities have been showcased at exportingisgreat.gov.uk since November 2015. This equates to 40 new opportunities every day or a new chance to export roughly every 37 minutes for UK businesses.
Opportunities have come from 109 countries and 44 different sectors, including the chance to sell tea to China or cheese to France. They also highlight a Spanish demand for our deckchairs and a Finnish thirst for British beer.
Trade and Investment Minister, Lord Price, said: “We have a proud history as a trading nation. The development of digital technology has the potential to give even the smallest company a global reach and access to attractive new markets.
“This government is committed to supporting 100,000 more UK businesses to export by 2020. Exporting is GREAT Week is the perfect time to inspire companies to take advantage of the world of opportunity out there and the global demand for British products, skills and expertise.”
UK SMEs are doing more business overseas
Britain’s small to medium-sized exporters are selling more of their goods and services overseas and expect foreign revenues to keep growing as they become more competitive during the first half of 2016.
This is according to the latest Business in Britain report from Lloyds Bank, which also found that the proportion of businesses that export had risen in the second half of 2015, from 35% to 37%, and those that export now make 40% of their sales overseas, up from 37% mid-way through 2015.
The findings come during Exporting is Great Week (18 – 22 April), a UKTI initiative to support new exporters. The bank expressed its continued commitment to supporting exporters earlier this month through its SME Charter and holds a strategic partnership with the UKTI to provide advice and intelligence to its customers.