UK SMEs have found the USA to be the most welcoming for their exports. Over half of them are sending their products stateside.
Barclays Business carried out the research that put the US as our country’s small business’s top export destination. France was a close second at 53% with Germany coming in third at 51%.
In signs that the small business economy is recovering, a third of SMEs have hit their trading limit for the UK hence so many are looking for foreign markets. When the same survey was carried out in 2013 that number was only at 25%.
The accessibility that the internet afford has played a big role with setting up an online store being easier than ever. 35% of businesses surveyed echoed this opinion. They cited taking card payments online as the biggest factor, with 13% saying social media played its part too.
Steve Childs, the head of international at Barclays Business said: “What is evident is that the world of digital has brought export markets closer to home for small businesses – being able to take payments online as well as using the digital channels to market open up opportunities for businesses that may have previously been harder to take up.
“We see a number of businesses export almost as soon as they open, due to natural demand from overseas markets, online and through social media.”
Image by Raphael Quinet