Exporters outperforming domestically-focused firms, survey finds

COVENTRY and Warwickshire businesses trading overseas are seeing a stronger increase in sales compared to those concentrating solely on the domestic market, a survey has found.

The Coventry and Warwickshire Chamber of Commerce’s quarterly economic survey (QES) found business confidence in the area remains steady despite uncertainty surrounding the Eurozone and the global economy.

And those firms that have broadened their horizons to take in the international market have seen a stronger rise in sales and advanced orders.

In the manufacturing sector, 42% of companies reported a rise in sales in the UK and 38% said advanced orders and bookings were up.

For those trading overseas, current and advance sales were up by 50%.

In the service sector, a third of businesses said sales had increased in the last quarter domestically while just a quarter had seen a rise in advanced sales.

But service sector companies trading internationally said that sales were up by 66% and that advanced orders had increased by 64%.

Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce, said: “Business confidence in Coventry and Warwickshire remains steady among our members which is good to see when you consider the wider economic picture and the fact that we are now in a technical recession.

“The latest QES does show that those companies that have looked for new markets overseas are securing more sales than those which are focused on the UK alone.

“We have been urging businesses to look abroad for opportunities for some time and I would say to any company that does not trade overseas now that they should utilise our international trade team because they help countless companies to win new business abroad.”