It might be worth looking into using a worldwide courier if you want to boost your profit margins over the next year or so if you’re a small to medium-sized enterprise (SME). However, it seems that the majority of such businesses are yet to consider exporting overseas, with many citing reasons like language barriers, perceived cost and a lack of knowledge of the market as significant barriers to this.
New research from Royal Mail has revealed that 60 per cent of SMEs are not yet exporting abroad. And of the 40 per cent that are doing so, just 26 per cent of their Christmas sales this year are expected to come from overseas orders – illustrating the scale of this potential missed revenue.
If you’re wondering where best to consider exporting to in the near future, you’ll no doubt be interested to learn that the study found that 35 per cent of SMEs think Europe has the most potential where new sales are concerned, while 28 per cent think the same of the US and North America.
It might also be worth looking into whether exporting to China would be of great benefit to your business. Recent research from UK Trade & Investment revealed that UK exports to this particular country have seen a £2.2 billion increase since 2014. Selling goods through physical distributors is certainly possible and then there are platforms like Alibaba (the equivalent of Amazon) that could prove especially fruitful for UK businesses that haven’t sold in this country before.