The government has long been hailing exporting as one way to inject more money into the small business sector as well as the UK economy as a whole. New research from the Federation of Small Businesses (FSB) has backed this up, showing that hundreds of millions of pounds could be added to the economy every year if more small businesses started to export their products. With alternative finance measures as well as the accessibility of ecommerce, exporting is becoming more and more viable for many small businesses – and should definitely be a route to consider.
New figures released by the FSB show that the huge sum of £792 million could be added to the economy each year if more small businesses were to undertake exporting on a wider scale. The research by the FSB indicated that 6% of its members who don’t currently export would like to expand into this area in the future. In doing so, they would add huge sums of money to the UK economy and generate greater economic activity in general. This would also help the government to reach its ambitious new targets of getting 100,000 new businesses exporting by 2020 – this could potentially add an extra £5.6 billion to the economy.
If expanding into exports is something your business is considering then now is the time to get involved. Not only are there many forms of financing that could help – such as invoice finance, which can help to raise the working capital to allow for expansions – but the UKTI is growing in awareness and is there to help new businesses. They can help not only big business but small firms as well. If you want to grow your business, then exporting should be a definite consideration.