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Exports boom for UK businesses

Mar 10 2011

Almost half of businesses have reported growth in the export side of their business

Almost half (47 per cent) of small and medium sized companies trading internationally have reported growth in the export side of their business in the past 12 months, according to new research.

Some 44 per cent have maintained export sales at the same level, while 9 per cent have noticed a decline, according to a study of 300 businesses by invoice financier Bibby Financial Services.

Andy Meadwell, international trade finance spokesperson for Bibby Financial Services, says, ‘The UK government has placed a huge emphasis on the role international trade will play in driving the UK out of recession and reducing national debt.’

Adds Meadwell, ‘With the latest Office of National Statistics figures showing a contraction in GDP of 0.5 per cent over Q4 2010, and Britain’s trade deficit reaching a record high towards the end of last year despite a growth in exports, there is an obvious need to drive international trade even further and promote the price competitiveness of UK goods and services on the world stage.’

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