Exporting boom for UK SMEs

Fruit stand http://barnimages.com/2015 was the year of the export for UK’s SMEs. According to Barclay’s recent Business Abroad Index, UK-based small and medium-sized enterprises enjoyed a 6% increase in revenue from European exports.

The UK’s primary export destinations were in Europe. Germany was the UK’s biggest buyer, followed by France, the US, and the Netherlands. Exports to China enjoyed a 21% increase on 2014 figures.

The index also iterated that exports from UK’s retail and manufacturing sectors grew significantly in 2015, enjoying growth of 36% and 10% respectively.

“The first port of call when considering exporting is identifying a target market and researching it thoroughly” says Steve Chillds, head of international for business banking at Barclays, “learning the culture, economic and political environment, customs, market, how business is conducted and most importantly, the competition”.

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