ONLY one third of SMEs in Yorkshire are “internationally active”, according to the Great British Export Report, released today by FedEx Express. However, a third (35 per cent) of UK businesses who were quizzed as part of the survey said that tapping into new markets was essential for their success.
Businesses that trade internationally are three times more likely to grow than those who do not, according to research.
A FedEx Express spokesman said the company was urging UK businesses to start thinking internationally to stimulate their growth and boost profitability. “This survey has picked up on some thought-provoking trends in business behaviour and attitudes,” said Trevor Hoyle, vice president, FedEx Express UK & Ireland. “With three decades of experience in the UK, we’ve seen first-hand how starting to export can have a revitalising impact on a business.”
The report also revealed that plenty of firms were optimistic about the prospects of doing business overseas.
“Now is the time for UK businesses to prepare for the internationalisation of their activities,” Mr Hoyle said. “This will allow them to get off to a flying start on the global stage and succeed in driving the UK economy forward, as long as they have access to the correct support required to help propel them to continuing international success.”
The report also reveals the type of barriers SMEs face when it comes to accessing new markets, with 20 per cent of companies surveyed reporting a lack of technical knowledge and a concern over the costs, while 14 per cent said they were waiting for economic conditions to improve further.