Exporting SMEs expect to see a surge in sales

SMALL and medium-sized exporting businesses in the West Midlands believe international sales will increase in the next 12 months, according to new research by Yorkshire Bank.
 
The survey also suggests that approximately 25,200 SMEs in the West Midlands which currently do not export intend to start selling their goods and services internationally in the next year.
 
In total, exporting businesses are anticipating international sales to make up 31% of their total annual turnover and more than half expect sales to increase in the same period.

Only a small proportion (2%) of all West Midlands SMEs expect their exposure to overseas markets to decrease.
 
The survey also shows that it is larger businesses in the SME bracket (100-249 employees), which are more likely to embark on international sales for the first time with around one in ten businesses which currently don’t export expecting to start this year.
 
Brian Colquhoun, regional director for business and private banking at Yorkshire Bank in the West Midlands, said: “In recent years the challenging conditions in our economy have pushed UK businesses towards more buoyant overseas markets for growth.
 
“British businesses have a rich and proud heritage of producing goods and expertise which are instantly recognised for their quality across the world. We have always looked to innovate and trade beyond our borders.”
 
Yorkshire Bank has strengthened its support for UK SMEs by becoming the first to partner with the British Business Bank under its ENABLE Guarantees scheme.