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UK Contractors: More UK small businesses than ever looking to export

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More UK small businesses, such as Limited company contractors, are looking to export goods and services, finds latest research from the FSB.

Findings from the Federation of Small Businesses’ (FSB) quarterly business index, has found that a net balance of 24% of FSB members expect exports to rise in the next three months. 

The FSB’s recent survey of nearly 9,000 small businesses found that the sectors most likely to export are manufacturing (42%), wholesale trade (41%), research and development (36%), engineering (34%) and digital/telecoms businesses (25%).  Another recent FSB report found the main barriers to exporting were fluctuating exchange rates (35%), difficulty finding customers (24%), and a lack of finance/working capital (23%). 

John Allan, National Chairman, Federation of Small Businesses, said, “Small businesses will have a major part to play if the Government is to meet its challenging targets for 100,000 new exporters and to double the value of exports by 2020. Starting to export is a big step for small firms.  They therefore need tailored advice and support which will allow them to overcome the barriers to exporting that have been repeatedly identified by our surveys. There is also a major job to be done to raise awareness of the support UKTI offers small firms thinking of starting the export journey.”

“The UK’s export strategy must focus on matching a company’s export potential to the right overseas market. The majority of our members still export to the eurozone but are increasingly looking to other dynamic markets such as China for opportunities.” 

What’s life really like as a contractor? Visit our Life as a Contractor case studies hub for real life stories on working through your own Limited company, taking money out of your Limited company, understanding IR35 and much more. 

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