A recent study that has been released by HSBC has shown that small and medium-sized companies in the UK are still continuing to look for opportunities overseas. The study showed that around 40 percent of these companies are looking to increase the trade they are doing outside of the country. The study also showed that of those already operating overseas, about 50 percent of them are going to be remaining in that overseas market.
New businesses are starting to recognise that it is very important to trade in overseas markets. This is an important part of remaining competitive as around 20 percent of small companies are already generating revenue from other countries. Remarkably, around nine in every 10 companies that already have a presence overseas are looking to expand it. This figure is particularly strong in companies that have been recently started.
The deputy head of HSBC’s commercial branch is Jacques-Emanuel Blanchet and he has commented, “A recent announcement by the government said that they are going to be looking at doubling the amount of exports from the country. Exports are an important part of helping the country reach its economic growth figures and our research shows that small companies are particularly up for the challenge of exporting their products abroad. We are especially pleased to see that new companies are looking to international markets.
“We estimate that over the next 15 years international trade is going to grow by a figure of around 60 percent. For this reason it is great to see that so many companies are already taking advantage of the international opportunities open to them.”
HSBC have recently launched a new fund worth £4 billion which is going to be distributed through loans to small companies which have an international focus, or want to start trading on an international basis.