According to new research, smaller sized business exporters, such as Limited company owners, are confident about their prospects in 2015.
Latest findings from Open to Export – the online export community backed by Government and the private sector, and sponsored by HSBC, revealed that 78% of business owners and managers believed that 2015 will be better than 2014, with the most popular new markets for exports being Europe (59%) and North America (44%).
The survey, which questioned over 400 British exporters, found that when looking to new markets, many agreed that they like to stay ‘close to home’, with 34% admitting that ‘cultural similarity to the UK’ heavily influenced their decision.
It was also found that public image also plays a part in decision-making, with 17% highlighting ‘positive media coverage of destination’ as a factor. Having friends or family in the location, or having cultural roots in the country, were each highlighted by 12% of smaller sized business.
Commenting on the findings, technology entrepreneur and Open to Export’s chairman Julian Hucker said, “Through our community and interviewing SMEs at Export Week, it’s heartening that business owners and managers are confident of their prospects for 2015 and are looking into a wide variety of markets, with Europe and North America dominating.
“Exporting to a new market is a big decision for many small businesses and with 57% looking online for information to help researching new markets, Open to Export aims to make it easy for them to find access to all the best information and support what’s out there.”
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