Businesses which trade internationally are three times more likely to grow than those who do not and FedEx Express is urging UK businesses to start thinking internationally to stimulate their growth and boost profitability. However, more than half (51.9%) of the 1,000 UK SMEs surveyed said they would require more support to achieve international expansion and FedEx Express is highlighting the solutions and expertise available to ensure UK businesses continue on an upward trajectory—driving the UK economy forward.
The UK has recorded the strongest export growth in the EU in 2013, outstripping every other large economy. This growth is down to surging exports (City AM, March 2014) and highlights the UK SMEs are doing a good job and positivity is set to continue in this area.
The Great British Export Report is released at a time when the UK government is emphasising the pivotal role SMEs need to play in the continued economic recovery by setting an ambitious £1 trillion export value target by 2020 (gov.uk). Some UK businesses are already taking advantage of international opportunities and the UK economy is looking more positive as a result. However, according to the report, UK SMEs still appear to find entering emerging markets challenging. China, Russia, Brazil and India are all under-represented in the SME export league table with China—the world's second largest economy—surprisingly occupying the sixth spot and topping the poll of the most difficult markets to export to. Other challenging regions to enter include the US, the Middle East and Japan, the research found.