Monday 18 November 2013
The Federation of Small Businesses (FSB) has offered a number of tips to small companies looking to export goods and services overseas.
In order to reach out into international markets to grow their companies, entrepreneurs have been urged to know their customers and learn about foreign markets.
Small businesses should start by exporting to a single overseas nation, the FSB urges, and also consider whether they want to sell through a distributor, agent, joint venture or their own office.
According to FSB research, £792 million could be added to the economy each year if those small businesses which want to export go ahead and do so.
John Allan, national chairman of the FSB, said many of the UK's smallest businesses have export potential, but need a little help getting started.
"Small firms remain a key part of the drive to increase the number of exporters," he stated.
"Our members alone that want to export could make a huge economic contribution."
Based upon latest figures from the Office for National Statistics, the UK has a trade deficit of £3.3 billion, meaning it is importing significantly more goods than it sells overseas.
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Posted by Dan Smith