Six out of 10 small and mid-sized businesses expect to trade overseas by 2016

Small businesses forecast growth in international reach and revenues within the next two years

Research reveals that six out of 10 of small and mid-sized businesses predict they will be trading overseas by 2016, with 28% of respondents expecting revenue from international sales to increase.

The report, conducted by Citrix and YouGov and featuring over 2,000 small and medium-sized businesses throughout the UK, highlighted that the predicted 20% increase in exporting activity was partly due to technology and global logistics networks reducing the barriers for companies to trade abroad.

The research found that of the companies present in international markets, nearly half (45%) conduct sales through their business’ websites and 14% use online marketplaces.

The survey also found that companies from the technology and marketing sectors were the most confident about their potential to grow overseas than those in other industries.

The research demonstrated the importance exporting played in the growth of small and mid-sized businesses with 76% of those currently trading abroad stating that international partners would be important in future development.

At least 10% of firms cited India, Russia, South America and the Pacific Rim as territories they’re doing business in.

Furthermore the research found a variation in age of the entrepreneurs willing to branch into the new markets (see graph) with younger business owners (25-44) more likely to trade with emerging markets than those aged 45 and over.

% of respondents trading with each market by age group
Market SMB owner / managers aged 25-44) SMB owner / managers aged 45+
China

19

15

India

15

11

Russia

16

10

South America

13

9

Pacific Rim (Philippines, Vietnam, Thailand, Malaysia, Indonesia)

14

10

 

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