The World Trade Organisation says that cross-border trade is more difficult and costly for SMEs – companies with fewer than 250 employees – than it is for larger companies. But why?
Small businesses accounted for 99.3% of all private sector businesses in the UK in 2017 and 99.9% were small or medium-sized, yet only a third are currently exporting or importing.
The fastest-growing SMEs are twice as likely to be ‘internationally active’ as those in decline, and those that are ‘internationally active’ are typically more positive about future business performance than those that do not.
Europe is still the primary destination for many exports and our biggest import market, followed by the US, Middle East and Asia. But still, many SMEs say that time, information, costs and regulation are holding them back from moving into new markets, or trying new sources of supply.
The reasons that SMEs give for their reluctance include:
– Fears of not getting paid
– Fear of not getting what was paid for
– Not having a presence on the ground
– Lack of local know-how (tax issues etc)
– Worries about high costs
It is clear that the most active importing and exporting SMEs are performing way ahead of the market and there are still plenty of untapped opportunities to be considered.
MIQ Logistics has been helping SMEs trade internationally for over 30 years, which means we have the global resources and network to support your business anywhere you want to trade.
Just as importantly our team has grown with the company, which means we have retained our small business personality and total commitment to our customers.
We believe it is our job to provide the insights, knowledge and support that will empower SMEs like you to do business wherever you want, with confidence.
We can provide advice and practical assistance with obstacles like access to distribution networks, information about border regulations and standards, trade finance, trusted payment mechanisms, and reliable, cost-effective shipping.
Whatever your business needs are, we will always be your trusted shipping partner.