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A new survey has found that UK SMEs are still hungry for international trade success in the face Brexit uncertainty. The research, called the UK SME Confidence Survey, commissioned by OFX and conducted by OnePoll, quizzed 500 UK SMEs owners and senior managers with employee counts ranging from 10 to 249. It found that 46%
Eight of the UK’s 10 industry groups saw export growth between 2015 and 2017 according to the latest data released by HMRC. The data, compiled from the Overseas Trade Statistics and Office for National Statistics, found that 151,000 UK firms exported goods and employing some 9.7m staff. Of the 10 industry groups, just two saw
New figures from the Office for National Statistics has shown the number of exporting UK SMEs increased by 6.6% in 2017 compared to the year before. Part of the Annual Business Survey, figures showed an increase in total exports to £637bn in September – an increase of 4.4% compared to the year previous, highlighting an
When Theresa May left the CBI conference last week she would have been forgiven for believing that businesses were on her side when it came to the Brexit deal she’s brought back from Brussels. Indeed, the CBI’s deputy director general, Josh Hardie, said in a statement that: “It appears that we’re on the cusp of
The boss of Rolls-Royce has urged politicians to back Theresa May’s draft Brexit agreement with time running out to agree any alternative. Joined by many other business leaders who came out publicly to back May’s Brexit plan, Mr East mirrored the sentiment of thousands of company leaders up and down the country in calling for
Huge Brexit news this afternoon and evening as UK and EU officials confirmed that they have agreed a draft Brexit ‘text’. Talks between Theresa May and her cabinet members have been held today before further discussions tomorrow afternoon. The news saw the pound surge against the dollar and the euro, though the cabinet and then
The number of small and medium-sized businesses in the UK expecting growth has dropped to its lowest point in nearly 10 years according to a new report. The research called the UK SME Manufacturing Barometer, conducted by SWMAS found that 13% fewer firms asked expected to see their revenues increase over the next six months.
British businesses are gearing up to trigger Brexit contingency plans as the deadline for a deal looms closer. According to the Confederation of British Industry who surveyed a broad spectrum of companies, 40% said they’re standing ready to begin enabling their post-Brexit strategies within the next four weeks should further clarity on the potential divorce
Direct-to-consumer brands are killing it right now. More creative, marketing powerhouses with often a singular, awesome product to sell have started flooded the marketplace. And where’s the first place we often hear about these brands? That’s right, social media. Who knew that buying a new mattress could be so exciting before Eve Sleep and other
We’re very much into the final straight of EU negotiations but despite wranglings of the Irish border and varying preferred versions of Brexit from within British politics, a favourable deal offer is already on the table – and has been from the very start. That’s according to Jean-Claude Juncker, President of the European Commission, who
It’s been another topsy-turvy few weeks in the business of Brexit as Labour reaffirmed its position and likelihood of rejecting pretty much any deal which Theresa May manages to bring back from Brussels. But towards the back-end of this week, the rhetoric has become slightly more positive with the chances of a Brexit deal having
There appears to be something of a thought gap when it comes to Brexit and business. On the one hand, various politicians thought leaders and media outlets will tell you the disaster that will incur after leaving the EU – especially in a no-deal scenario. But the other hand, held by businesses on the ground
A joint report by Google and Temasek Holdings has predicted that the Southeast Asian internet economy is expected to be worth $200bn within the next seven years. The report, called ‘e-Conomy Southeast Asia Spotlight 2017’, noted that growth last year outstripped expectations by 35%, worth $50bn at the end of the year. E-Commerce sales have
A new study has found that three-quarters of UK small and medium-sized businesses currently exporting are yet to factor in and formulate a specific post-Brexit strategy. The report, released by the Chartered Institute of Marketing and PwC Research, warned that whilst many firms are expecting to see export volumes and revenues grow over the next
Liam Fox has written an article for The Sun in which he encourages Britain’s small businesses to become ‘intrepid exporters’ whilst reinforcing the view that Brexit is a pathway by which the UK can become a trading superpower. The International Trade Secretary has been busy on the public relations front, sharing positive and motivational business
A new export strategy from the UK government aims to boost total exports to 35% as a proportion of GDP. The new plans aim to ‘make Britain a 21st century exporting superpower’ after extensive consultation with local businesses across sectors. Plans also set out targets to increase productivity, wages and job security. International Trade Secretary,
Over 5,000 UK companies paused exporting plans in 2016 as a result of the Brexit referendum result. That’s according to research released last month by academics at Cambridge, whose report also suggested that nearly 4,000 companies actively stopped exporting over uncertainty surrounding future trade rules and border taxes. Academics Meredith Crowley, Oliver Exton and Lu
The UK’s global exports reached a record £616bn last year with both goods and services seeing marked growth. Exports to non-EU countries in 2017 were valued a £342bn, 55% of total export value, with £274bn in EU exports. Good exports soared 13% to £339bn over the year, whilst services increased 7% to £277bn. Interestingly, key
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The government has agreed to temporarily guarantee trade credit insurance to support businesses struggling to get cover during the pandemic. The guarantee will help both domestic and exporting companies within the supply chain. With almost all sectors being financially impacted due to coronavirus, some firms have seen the number of payment defaults increase, making it
The UK government has confirmed plans to enhance border checks at ports in Northern Ireland and intends to release detail with the executive outlining ‘physical posts at ports of entry’ as soon as possible. Whilst the rest of the UK will stop following EU rules on agricultural and manufactured goods at the end of this
As UK-US talks on a free trade deal officially get underway, there’s hope in the SME community that an opportunity arises which will help mitigate some of the damage caused by Covid-19. Almost 200 negotiators will be locked in detailed discussions, via video call, every six weeks in a deal that could see UK-US trade,
Opening a world of opportunities for businesses with ambitions to export.
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