Tuesday 27 November 2018, Research by ICAEW has revealed that just 3% of all businesses and only 7% of SMEs have started exporting in the last two years – despite Governments attempts to encourage more firms to sell internationally and not just to the EU, the UK’s biggest overseas market.Companies that are already exporting were planning to continue to export to the same countries with just 22% looking to enter new markets – a fall from 33% in 2014 and 25% in 2016. Europe remains the top export destination (63%) followed by America (35%) and Asia Pacific (29%) with these figures remaining broadly unchanged in the last two and four years when the survey has been conducted. Those exporters who are planning possible expansion cite Asia Pacific (36%) and Europe (34%) as new markets – again unchanged.
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