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10 November 2017

Small firms need support to encourage overseas trade

Commenting on the latest ONS trade data for September, Mike Cherry, National Chairman at the Federation of Small Businesses (FSB), said:

“The continuing trade deficit shows work needs to be done to encourage the UK’s small businesses to trade overseas.

“Our research shows that one in five small businesses currently exports, and with the right support that figure could be double.

“Bespoke support is important for small and micro businesses. As well as current initiatives to support reactive exporters, more needs to be done to help turn small businesses into strategic exporters. Without this, we will not be able to turn the dial on productivity.

“Export vouchers would be a good start and this month’s Industrial Strategy must contain concrete recommendations to help small firms exploit future exporting opportunities.”