NEWS

Govt urged to help small firms that export

The Federation of Small Businesses (FSB) is calling on the Department for International Trade and the Treasury to provide small firms with a pre-Brexit injection of support to promote exporting. 

Around 21% of small firms currently export.

Export Vouchers, up to the value of £3,000, would help small firms on a range of costs from investments in translation services, additional market research and finding new clients through overseas trade fairs.

Research by the FSB shows that the potentially positive impact of the depreciation in Sterling on exporters has been offset by the volatility in Sterling and the uncertainty created as a result of the current failure to secure a Brexit deal.

Over half (53%) of small business exporters to the EU believe their business continuity and growth will be negatively impacted by a no deal on the 31 October.

Of those smaller businesses that export that have prepared for a no deal scenario, the average cost of preparations is £2,880; rising to around £3,000 for those smaller businesses that import and/or export.

 

09/10/2019

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REF: MC/NL/1.1