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Exports: The Answer for SMEs?

While the government has long been saying that exports will be key to SME recovery in the UK, there is promising news for many small business – which is welcome amongst all the double dip doom and gloom. With the UK market not yet recovering strongly, looking to other countries could give added revenue and cash flow that might be very welcome. In order to facilitate this, it’s important to think about your financing options – which definitely don’t end with the banks.

Promising Outlook

UK businesses have seen an increase in export activity over the first quarter of 2012. This trend also looks to continue over the next quarter as well, bringing further good news to many small businesses. Compared to the same period last year, there has been an 8% increase in exports.

This demonstrates that many businesses operating overseas found last year tougher than this year, high oil prices especially posing a problem. The survey, conducted by the British Chambers of Commerce Trade Confidence Index,  showed that these pressures were easing  - this combines with lower inflation rates which might make it an easier year for many exporters.

Figures of export increases and export orders have risen to levels in the last quarter of 2010. While this is not yet enough to bolster the UK economy fully, this is an encouraging sign in the wake of our dip back into technical recession.

Financing Growth

With such shaky growth figures, this all shows that exports could be the way forward for many small businesses. It’s important to finance this expansion affordably and efficiently, and this is where invoice finance could come in.

Invoice finance options such as invoice discounting and factoring  could be a solution for releasing cash flow in order to fund growth projects, such as exports, which are essential to helping the UK recover. With many small businesses looking to avoid extra debts, bank loans could be out of the question, so invoice finance offers an efficient, quick and flexible solution.

If your business needs to broaden its horizons, then Select Factoring have a range of invoice finance solutions that could let you do just that.

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