"According to the BCC's latest Quarterly Trade Confidence Report, only 16 per cent of micro exporters - companies with fewer than ten employees - reported growth in international sales during the third quarter of this year. In contrast, 42 per cent of larger exporters saw exports rise over the same period, highlighting what the BCC described as a "deeply concerning" divide."
"While almost half of large exporters (47 per cent) said their export volumes had remained stable, only 27 per cent of micro exporters saw growth, and a further 27 per cent reported declines. In the previous quarter, 29 per cent of large exporters had reported growth in export orders, compared with just 20 per cent seeing a fall."
"William Bain, head of trade policy at the BCC, said the widening gap underlines the need for targeted intervention. "The growing disparity between the experience of the UK's largest and smallest exporters is deeply concerning," he said. "It underlines our call for urgent government action, in partnership with business, to help smaller firms reap the benefits of trade.""
Britain's smallest exporters are falling behind larger firms as new trade agreements favour bigger companies. Only 16% of micro exporters reported international sales growth in the third quarter, compared with 42% of larger exporters. A survey of 4,600 UK businesses from August 18 to September 15 found smaller firms struggling to capitalise on deals with India, the United States and the European Union. Almost half of large exporters reported stable volumes, while micro exporters experienced equal shares of growth and decline. The BCC urges targeted government action, in partnership with business, to help smaller firms reap trade benefits.
Read at Business Matters
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