26 Jul 2024
The Federation of Small Businesses (FSB) has outlined five 'key priorities' for removing barriers to exporting for small and medium-sized enterprises (SMEs).
In a new paper, the FSB stated that the current export rules make trading difficult for SMEs, and that government support is confusing and 'not always helpful'.
The paper outlined five key priorities, including taking a cross-Whitehall approach to policy; creating an open relationship with business; harnessing global leadership on digital trade; being open to export from day one; and addressing the 'finance gap'.
The FSB said that firms that do currently trade do not always have adequate advice.
Commenting on the matter, Tina McKenzie, Policy Chair at the FSB, said: 'Our economy has been proving its mettle over the last few years, but to ensure sustainable growth we need to focus on exports. After all, international trade is the ultimate growth hack for small firms – it allows them to tap into new markets and diversify their revenue streams.
'In turn, exporting businesses are more likely to grow faster and keep their heads above water during tough domestic times. But with only 10% capitalising on those opportunities, we set out today a roadmap of how more can, and should, be done.'