Reading the new research from FedEx, which concludes that only a third of small and medium businesses see exporting as a key growth opportunity and only 25% of SMEs are currently operating internationally.
1. US (44 per cent export to)
2. Australia (30 per cent)
3. New Zealand (20 per cent)
4. Canada (20 per cent)
5. South Africa (17 per cent)
6. China (15 per cent)
7. Japan (14 per cent)
8. United Arab Emirates (12 per cent)
9. India (12 per cent)
10. Russia (12 per cent)
Source: From FedEx: Top ten markets for UK SMEs which export globally
The top ten markets are all located more than 4 hours away by air, present very complex cultural differences and country bespoke legislation rules/laws per country.
Companies interested in growing overseas could as first step look at market(s) “closer to home” with same/similar regulations to reduce shipping document and labelling complexity.
Does this situation ring any bells?
The key ingredients in growing one’s export is not solely relied on Government support and grants but the biggest part must come from within the “heart and soul” of the company who wants to embark on the export journey.
The willingness to learn and adapt from other markets and the consumers surely must be set in stone before the journey starts.