Not enough Staffordshire firms willing to export says chamber

LESS than half of the companies in Staffordshire are looking to grow their businesses overseas, a new trade study has claimed.

The Staffordshire Chambers of Commerce said the results of the survey suggested that firms were too inward looking with regard to growth.

The chamber’s international trade survey, which was answered by 103 firms across the county, looked at the barriers facing existing and potential Staffordshire exporters.

In response to the finding, the chamber said firmsin the county had to think more globally.

It said that while 91% of businesses had ambitions to grow domestically, less than half of firms (48%) had ambitions to grow internationally.

The chamber said the benefits to those businesses which where pursuing export growth were clear, with more than half of current exporters (54%) saying they recorded a positive impact on their bottom line within just 12 months of expanding into new markets abroad.

Fast-growing markets in Europe and Asia, as well as the Middle East remain the most popular export regions for UK businesses, it added.

The majority of firms (79%) said the most influential factor when considering exporting was the ease of finding customers, agents and distributors.

In total, 56% of non-exporters ssaid they did not have the right product or service for export.

Reduction in red tape was identified by 50% of the businesses as the key factor that would encourage non-exporters to look overseas for the first time.

Commenting on the findings, Jane Gratton, Deputy Chief Executive of Staffordshire Chambers of Commerce said: “It’s understandable that less than half of the businesses we surveyed have ambitions to grow internationally, but it proves that we need to do more in the area to take the fear out of exporting.

“As we have seen in our Quarterly Economic Survey, more and more businesses still see available demand in the UK market and don’t see why they would need to take their goods and services overseas. To transform businesses’ domestic mind-set, we need to create an environment that makes it worthwhile for them to export.

“If the Government is serious about rebalancing our economy, they must invest even more in supporting and promoting international trade. Government intervention must be more focused in areas that can really make a difference, such as providing UKTI with greater access to finance for SMEs.”