Small business exports increase
29th November 2018
Increasing numbers of small businesses are exporting goods and services abroad, figures from the Office for National Statistics show.
In total, exports from the UK rose to £637 billion in September 2017 - an increase of 4.4% on the year before.
Around 232,000 small and medium-sized companies - 9.8% of all SMEs in the UK - took up the opportunity to export. This was an increase of 6.6% compared to 2016.
Exports increased among both new and established businesses, rising by 19.9% for companies less than two years old, and 10.2% for companies over 10 years old.
The data follows the launch of the Government's export strategy in August 2018, which offers support to exporting businesses, and aims to increase exports as a proportion of UK GDP to 35%.
Liam Fox, international trade secretary, said:
"This is further evidence that the high-quality goods and services produced by British businesses are selling all over the world.
"Our export strategy sets out an offer to every business that has the ambition to start exporting or increase their existing operation."
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