It is well known that, during economic struggles, exporting can prove a very valuable move, spreading business risk and broadening markets covered. However, with all the traditional major economies in the world struggling to various extents, SMEs may have been put off in recent months.
But despite the significant problems being experienced in the eurozone and the USA, SMEs could still significantly benefit from exporting, figures have revealed.
A report released by the Office of National Statistics (ONS) has shown that UK exports are indeed rising, with a jump of 1.3% for August in comparison to July.
As unemployment has risen in the UK and inflation hit a three-year high, growing exports suggests that there are opportunities for British SMEs to expand into overseas market to make up for sluggish trade domestically.
The USA, despite problems with its economy, is still a popular choice, as exports grew by £42 million over August, to a total value of £3,240 million.
Invoice finance for exporting businesses
Here at Skipton Business Finance, we are able to fund exporting businesses with our flexible invoice finance solutions.
We can provide a financial solution that expands in line with a business; therefore as more invoices are issued, more cash can be accessed!
Why not give us a call today to see if we can design a tailored finance facility for your business.