Member Article

Two thirds of London SMEs are now trading overseas

Almost 60% of London SMEs are currently trading overseas, according to a survey by Avanta Serviced Office Group, London office provider, in partnership with London First.

Over 200 of small business customers were questioned in the Capital. Of those businesses trading internationally, the vast majority are exporting, with 94 per cent saying they sell overseas.

When asked what countries they are trading with, the Eurozone comes top, with 48%, followed by other EU countries on 29%.

However many are looking further afield, with almost a quarter (23%) doing business in the Middle East, while just slightly fewer (22%) are trading with Australia and New Zealand.

Eastern Europe (16%), India (16%) and China aren’t far behind (15%), showing that the new ‘superpowers’ are also drawing in London entrepreneurs.

Alan Pepper, CEO of Avanta, said: “Trading overseas is a fantastic way of growing a business, opening up entirely new markets and opportunities for ambitious entrepreneurs. British SMEs have traditionally been cautious about selling their products outside the UK however our survey shows that small businesses in London are now crossing borders in their droves. And what better base than London, arguably the most international city in the world, from which to trade.”

Baroness Jo Valentine, Chief Executive of London First said: “Since London merchants set sail for the East Indies over three hundred years ago, our capital has been one of the world’s leading exporters. I am delighted that many smaller businesses in London are helping to maintain this global position today, and are reaping the economic benefits of trading beyond our borders.”

This was posted in Bdaily's Members' News section by Ellen Forster .