Despite the economic climate and uncertainty face, overseas trading can be managed by SMEs – here’s what to expect when you’re exporting.
As Britain’s ecommerce market matures, many savvy retailers are looking internationally to drive sales and growth this year – and the US ecommerce market is on the radar.
The uncertainty surrounding Brexit – exactly when the government will invoke Article 50 and what sort of deal the UK will get from the EU – is causing many SMEs to look beyond the historically easy pickings of the EU and towards the wider world for international trade.
George Osborne replacement Philip Hammond is currently on an overseas assignment in China, which will see him encourage business and investment ties between the country and Britain.
With the seventh largest economy in the world, Brazil is an exciting market for UK businesses – as Mauricio Munguia, head of Latin America desk at Santander UK, explains.
On the back of the England cricket team reclaiming the Ashes during the fourth test in Nottingham, it’s been revealed that British sales of cricket and polo equipment to Australia during 2014 topped £1m.
The desire for British businesses to export to countries further afield than the EU has seen the amount of goods shipped to Asian nation China grow by 12 per cent during 2014 – meaning it now sits at number six in the top ten list.
Despite the Chinese economy's meteoric rise, the latest figures point to a decline in British exports over the last decade.
The number of mid-sized companies receiving UKTI support to sell overseas has doubled in just seven months, according to the government.
Over the next two years, UK SMEs project that their international business relationships will increase in both scope and importance.
New research shows that Britain's exporters are performing more strongly than those just focussed on the UK market.
A recent survey from Western Union Business Solutions finds 39 per cent of British SMEs are concerned about the volatility of British economic recovery, and this influences how they act going forward.