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Double the number of SMEs looking to expand internationally

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Increasing numbers of SME owners in the UK are looking to expand internationally and benefit from overseas trade, according to the latest Business Growth annual survey by Santander Corporate & Commercial. The 2014 survey found that 6% of business owners said the ultimate aim for their business was to expand internationally, double the number in 2013 and 2012. Moreover, 22% of firms targeting an annual turnover of over £5m are aiming to become international businesses. However, this year's survey also identified that 26% of the firms committed to expanding internationally do not currently have a website. Moreover, 57% of these export-hungry businesses do not have capacity to accept online payments. Marcelino Castrillo, Managing Director of SME Banking at Santander, said “There is clearly a growing appetite among UK businesses to expand overseas and seize the benefits that can come from international trade, and this is great to see. However, it is also clear that a number of UK businesses may be unnecessarily hindering these opportunities, and here it is important to seek out advice and support from a trusted business partner”. To help more firms access the support they need to begin trading with new markets, Santander is launching a new package of non-financial support as part of its commitment to help 5,000 more businesses expand internationally in 2015. Businesses will be able to access free masterclasses, seminars and round tables through Santander's new Breakthrough Moments Box. The pop up business surgery will be visiting key UK cities to connect businesses to experts and advice to help them equip for growth and global expansion.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

 

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