The Sunday Times has now published this year’s Lloyds SME Export Track 100, which lists a run-down of the UK’s top small and medium-sized enterprises (SMEs) in terms of international trade.
According to the tracker, which is now in its third year, the UK’s top SMEs have managed to grow international sales by an average of 53 per cent over the last two years, to the tune of £36million.
UK International Trade Secretary, Liam Fox, has praised companies for “seizing the huge international demand for innovative UK products and services,” while Lloyds Banking Group has said that this year’s tracker should be taken as proof of the “significant rewards” SMEs are able to attain by branching out into overseas markets.
A separate study recently carried out by FedEx has revealed that approximately 86 per cent of UK SMEs currently trade within the European Union (EU), while a further 63 per cent export products or services overseas on a regular basis.
FedEx’s SMEs Export Report found that 81 per cent of British businesses are currently using e-commerce in order to generate export revenue growth, while 30 per cent claim that they have enjoyed increased revenue this year as a direct result of exporting.