SMEs hitting '˜BRIC wall' in export struggle

The study from insurer RSA reveals that while SMEs want to access opportunities in emerging and growth economies, they remain dependent on EU markets, suggesting that SMEs could be disproportionately affected if Britain votes to leave the EU in the upcoming referendum.

David Swigciski, a director at RSA, said: “The UK’s SMEs are stuck in the gravitational pull of the EU. Current Government export support isn’t working for our smaller businesses, who are struggling to trade beyond Europe.

“Not only are our SMEs missing out on growth markets, they face significant risk from uncertainty over a possible Brexit and our future relationship with Europe.

“SMEs are telling us that the perception of the UK’s small businesses as corner shop owners is outdated and damaging. We need a 21st century framework for the 21st century SME.

“Government policy needs to be updated to support our internationally-minded business community if SMEs are not to be caught between the rock of the BRIC wall and the hard place of Brexit uncertainty in their core EU markets.”

The study reveals a disconnect between Government-led initiatives – including the recently-launched ‘Exporting is GREAT’ campaign – with four in five SMEs stating the Government must do more to champion small exporters.