Do UK SMEs need to look beyond the island?

Among the countries surveyed, 43% of exporting SMEs across Europe increased turnover exporting within or outside the EU with Britain being the most successful.

Most sales for UK SMEs (39%) are within the EU, where they have been 26% more successful at increasing turnover than the European average. Currently, 39% of UK SMEs exported to countries within the EU.

For the 31% exporting outside of the EU, they found themselves 26% more successful, with the US at the top of the list. Indeed, 54% of SMEs that had sent shipments outside the EU had exported to the US. 

English-speaking destinations such as Australia and Canada also figure high on the list of export destinations outside Europe.

The research found that UK businesses of all sizes are exporting, from the smallest micro businesses with just a few employees to the largest SMEs with nearly 250 employees. Medium-sized businesses, with between 50 and 250 employees, have the highest percentage of exporters at 29% compared to their small and micro counterparts.

Opportunities for exporting exist for all sectors, though the UK high-tech and industrial industries outperform the national average for exports across all sectors. SMEs in the UK have the highest percentage of online sales outside the EU compared to other European countries surveyed. SMEs in the UK have the highest percentage of online sales outside the EU compared to other European countries surveyed.

The majority of shipments sent by surveyed SMEs are destined for domestic customers and other countries within the EU, and the findings suggest that these businesses need help to explore markets further afield. Concerns over goods being lost or damaged and a lack of information about how to manage export regulations and procedures are curbing the appetite for this export expansion.

George Willis, managing director of UK, Ireland and the Nordics UPS, commented:

“Some ambitious SMEs are already taking the first steps toward expanding into international markets. The business rewards of exporting can include increased revenue and robust growth, and by working with the right logistics partners, the risks can be managed,”

"The statistics definitely show that UK SMEs have to strike out beyond the island to expand their customer base and grow their businesses."