11/03/2011
More small and medium businesses that trade internationally could see an expansion following the news that 91 per cent reported positive figures in the last 12 months.
A report into the finances of 300 internationally-trading businesses showed that 47 per cent reported growth in their export market. A further 44 per cent remained at the same level and only 9 per cent saw a decline.
Leader of the study Andy Meadwell told smallbusiness.co.uk, "The UK government has placed a huge emphasis on the role international trade will play in driving the UK out of the recession and reducing national debt.''
"With the latest Office for National Statistics figures showing a contraction in GDP on 0.5 per cent over Q4 2010, and Britain's trade deficit reaching a record high towards the end of last year despite a growth in exports, there is an obvious need to drive international trade even further and promote the price competitiveness of UK goods and services on the world stage."
Meadwell went on to suggest that businesses are likely to profit well from international trade, although noted that many are still unwilling to take the risk of plunging a lot of money into the venture. For businesses willing to take the risk, however, invoice factoring and other such invoice finance measures are on hand to help them make the move, by freeing up cash.
Speaking to internationaltrade.co.uk, Meadwell said "These findings certainly bode well for those firms trading internationally. However, businesses need to take a proactive approach to international trade, with many missing out on valuable opportunities through a fear of investing or lack of funding.
"There is no better time for UK businesses to look at developing growth strategies in international markets."
David Howells