Small and medium sized enterprises (SMEs) are contributing to UK export growth with 63% now exporting.
Research by FedEx Express found that SMEs are taking opportunity of the decline in the value of sterling. Exporting revenues contribute to 59% of exporting SME’s total revenues.
The digital economy has been a key contributor for exporting SMEs with 81% generating revenue through e-commerce, and 30% have reported increased growth in revenues over the last 12 months.
86% trade within Europe, with France (60%), Germany (56%) and Ireland (43%) the top exporting destinations.
- 38% export to the USA
- 53% of SMEs across Europe export to other continents.
Ed Clarke, managing director, UK Ground Operations, FedEx Express, said:
“To continue this upward momentum, governments and businesses across the world should play an increasingly important role to align SMEs exporting ambitions with the digital economy – providing more opportunities to reach new markets and customers.”