UK businesses ‘targeting international trade’ as part of growth plans, survey suggests
A survey carried out by distribution group CitySprint has suggested that UK firms are considering trading internationally in order to grow and expand their business.
The survey, which polled over 1,000 business owners and directors, revealed that around 1.3 million small and medium-sized enterprises (SMEs) are focusing on international trade in their plans to expand their business.
78% of those seeking to trade overseas indicated that they would like to do business in Europe, CitySprint found.
A further 55% are considering trading in North America, whilst an additional 36% expressed an interest in trading in Asia.
Businesses in the retail, manufacturing, arts, IT and utilities industries are most likely to consider trading internationally, CitySprint suggested.
Meanwhile, the survey also revealed that 52% of firms have plans to expand their business within the UK.
Commenting on the findings, Patrick Gallagher, Group CEO at CitySprint, said: ‘The UK’s smaller enterprises show no shortage of ambition when it comes to exploring new markets.
‘Whether it’s going global or taking trade nationwide for the first time, scaling up is a huge milestone in any organisation’s history. It needs to be done thoughtfully and with care – but it doesn’t have to be done in isolation. SMEs must work together to realise their goals.’