Overseas sales for small and medium-sized firms (SMEs) are predicted to total £15 billion over the next 12 months, according to a survey by Clydesdale and Yorkshire Banks.
The poll of more than 1,000 SMEs found that overseas sales account for 21% of the turnover of existing exporters. This figure is expected to rise to 24% over the next year.
Key findings:
- 34% of surveyed firms expect to start exporting or increase sales overseas in the next year.
- Two thirds of manufacturing SMEs expect to start or increase exports in the next 12 months
- 48% of IT firms expect to grow internationally
- 60% of SMEs do not currently export, with 57% believing their products are not suitable
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