Why should your small business consider exporting?

Different country flags Figures released during ‘Exporting is GREAT Week’, highlighted that there are a number of opportunities available for UK SMEs who are considering export.

In total, over 6,000 export opportunities have been showcased at exportingisgreat.gov.uk, since November 2015, equating to 40 new opportunities to export every day, that is one every 36 minutes!

Whilst SMEs account for 99% of all UK businesses, they currently only make up 33% of our total goods exports, begging the question, “Why aren’t more businesses making the most of the opportunities that exporting presents?”

Only 1% of SMEs that import and/or export currently use finance to support their growth, with nearly three-quarters still relying on their existing resources. One of the main reasons given for this is the general lack of understanding of the breadth of alternative sources of finance available.

Finance is a one method of ensuring that businesses have access to the cash flow they need, when they need it most, and whilst many are familiar with the facilities promoted via the banks, few are aware of the alternative solutions available when this is not an option.

In 2016* alone, we assisted over 1,800 asset deals, providing in excess of £43 million of funding for a variety of business investment and development projects allowing businesses to spread the cost of critical expenditure, to free up cash flow for further business growth.

*as of 28/07/2016