New research by Royal Mail released as part of Small Business Advice Week lists key reasons for why majority of UK small businesses (60%) are not exporting abroad and potentially missing out on millions of pounds in lost revenue.
The research identifies several key reasons such as perceived cost and complexity of getting through customs (26%), a lack of knowledge of the market (21%) and language barriers (21%).
Other reasons given by small business owners for avoiding exporting were a lack of knowledge of the market (21%) and language barriers (21%).
A further look into the export aspirations of UK small business owners found that 10 % are currently selling to customers within the EU and would like to seek more opportunities to sell to non-EU customers. 15 % said they sell outside the EU and would like to seek even more opportunities to sell to non-EU customers.
While domestic online marketplaces are popular among small business looking to grow their UK customer base, only 25 % of small businesses look to international marketplaces to grow their sales potentially missing out of the huge sales potential they offer.
Jim Shaikh CEO of Yoomi, manufacturer of self-warming baby bottles said: “Expanding internationally was a no-brainer for us. The UK market for our product is very mature and we found that expanding abroad was the logical next step and the only clear way for us to achieve solid growth.”
Roger Morris, Head of Royal Mail Parcels said:“Getting started as an exporter can be daunting. We have taken significant steps to help businesses looking to start exporting, from in-depth research into international markets, to enhancements to our international products. We believe that international is just another postcode. We work with businesses to establish reliable value for money services.”
Interested in finding out more?
For more information please visit the web site of Royal Mail on the following link