SME Exports crucial in deficit reduction

Export Update

The FedEx Great British Export Report, published in earlier this month shows that the overall UK trade deficit stands at around £2.8billion. However, SMEs are really helping to counteract this by exporting more than they are importing.

SMEs are making a crucial difference to Exports

Here are some fascinating stats:
• The average SME exports £553k a year to Europe and imports £535k.
• The average SME exports £714k a year outside of Europe but imports just £410k.
Midlands companies are especially active – on average exporting £39,652 more per month to Europe than they import – a higher figure than anywhere else in Britain and there are a good proportion exporting manufactured goods.

SMEs still need skilled support

Although this is good news, I have found that SMEs are frequently hampered by a lack of internal expertise or the time to build relationships with partners in target export markets. I have specialists within my team who have just the right skill set to help SMEs grow business through exporting. In this way, any well planned export marketing budget is utilised in a focussed way to generate the right results. Please get in touch to chat through your options.

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