smallbusiness.co.uk: Helping your business think big

Businesses are all too often deterred from exploring exporting opportunities because of the perceived problems in entering a foreign market.

The latest Lloyds TSB Commercial Business in Britain report shows that a significant number (39 per cent) of small and medium-sized enterprises (SMEs) expect order book levels to rise in the second half of 2010 – with 42 per cent expecting a rise in foreign sales as a result of the rebound in world demand and a sustained fall in the pound.

According to a separate survey commissioned earlier in the year by Lloyds TSB Commercial, some of the most common reasons for SMEs not exporting are fears over a potential lack of demand, worries about late payments from customers abroad, the possibility of bad debts and concerns about foreign currency fluctuations.

But technology, such as the internet, now allows many companies to explore opportunities abroad without investing large amounts of capital establishing a business office or agent in another country.

Lloyds TSB Commercial offers a range of international business and foreign exchange services to help firms deal with the challenges exporting can bring, as well as assisting them to manage their cash flow.

All our international business managers are based locally across England and Wales and their expertise can help make exporting easier and potentially more profitable for businesses. They can introduce firms to organisations such as UK Trade and Industry (UKTI) which may be able to help make export expansion successful and sustainable.

By Mark Dodd, head of international for Lloyds TSB Commercial

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