Support for exporting small firms is crucial

Press Releases 10 May 2018

Commenting on the latest trade data from ONS, which showed a narrowing of the UK trade deficit, Mike Cherry, FSB National Chairman, said:

“The narrowing of the UK’s trade deficit at the beginning of 2018 is a positive step.

“Our own research shows that international traders currently remain bullish, with the number of small exporters expecting their global sales to increase over the coming three months, at a one-year high.

“The success of the UK economy rests on helping more small firms to export, and increasing the potential of existing exporters. Securing the right long-term trading relationships is crucial but so is providing immediate support.

“The Government’s upcoming export strategy will be crucial in providing this support to smaller businessesIncentives like export vouchers and grants should be made available to small businesses to help them with upfront investment costs for things like contracting intermediaries or additional market research.

"It’s worrying to hear reports of cuts of exports support, which is so important to encourage small businesses to start to trade overseas or enhance their export activity. FSB will be raising this directly with the Department for International Trade as a matter of urgency.”

Notes to editor

1) ONS statistics, UK trade statistical bulletin for March, Thursday 10 May 2018
2) FSB, ‘Small Business Index Q1 2018’, 27 March 2018

About FSB

As the UK’s largest business support group, FSB is the voice of the UK’s small businesses and the self-employed. Established over 40 years ago to help its members succeed in business, FSB is a non-profit making and non-party political organisation that’s led by its members, for its members. As the UK’s leading business campaigner, FSB is focused on delivering change which supports smaller businesses to grow and succeed.

FSB offers members a wide range of vital business services, including access to finance, business banking, legal advice and support along with a powerful voice in Government. Each year FSB also runs the UK’s Celebrating Small Business Awards. More information is available at www.fsb.org.uk. You can follow us on twitter @fsb_policy and on Instagram @fsb_uk.

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