07/10/2011
Small businesses in the fashion industry could soon be seeking help to expand overseas.
New research by DHL express found that 65 per cent of small businesses in the fashion industry expect to see overseas sales double over the next two years.
With high profile figures such as Victoria Beckham and Kate Middleton raising the profile of British fashion overseas, many UK firms expect growth - but acknowledge that much needs to be done to undertake such a large-scale expansion.
As two-thirds believe they will need help to meet the rise in demand, there may be a rise in the number of businesses using helpful techniques such as invoice finance; as this could help them free up some cash to invest back into their growth.
Furthermore, of those surveyed, 70 per cent claimed that the surge in popularity of British clothing was down to its quality; whereas 28 per cent cited its value for money.
Speaking about the research to smallbusiness.co.uk, CEO of DHL Express UK and Ireland, Phil Crouchman, explained: "The British fashion industry is in a strong position to not only grow its own revenues, but if demand continues, British fashion businesses could be incremental to domestic economic growth overall."
Adding, Colin McDowell, creative director of Fashion Fringe, told bhmmagazine.co.uk: "In order to facilitate this demand and, in turn, business growth, British fashion businesses need support to navigate the choppy waters of international trade."
David Howells