How to start exporting with your small business

Small businesses aren’t exporting enough. They need to do their homework, says David Prosser

In 2014 the government set a target of £1trn of exports by 2020. But in 2018, the last year for which data are available, exports reached just £535bn. One major problem is that many small and medium-sized enterprises (SMEs), where the potential for export growth is highest, are keen to sell overseas but say they don’t know how to get started.

British businesses can and do succeed in markets all around the world – but the right strategy for your firm will depend on its individual characteristics and ambitions. The key is to make detailed preparations, taking specialist advice wherever it is needed in order to develop a plan. Exporting for the first time then becomes less of a leap into the unknown and more a question of executing a well-researched strategy.

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David Prosser
Business Columnist

David Prosser is a regular MoneyWeek columnist, writing on small business and entrepreneurship, as well as pensions and other forms of tax-efficient savings and investments. David has been a financial journalist for almost 30 years, specialising initially in personal finance, and then in broader business coverage. He has worked for national newspaper groups including The Financial Times, The Guardian and Observer, Express Newspapers and, most recently, The Independent, where he served for more than three years as business editor.