Only six per cent of Scotland’s small and medium sized businesses are planning to start exporting next year.
A survey commissioned by HSBC COMMERCIAL BANKING reveals that despite finding new customers being the number one concern for UK SMEs, it found that only one-third of SMEs are trading or operating internationally in a bid to gain new business.
While concerns over growing competition, the availability of skilled staff and the burden of regulation were also cited by the SMEs in Scotland, finding customers emerged as one of their biggest issues.
With a third of British small businesses already trading overseas to increase their customer base, SUSAN ROWAND, HSBC’s Head of Business Banking in Scotland, urged more small business leaders to consider exporting opportunities: “Scottish SMEs have every reason to be confident about selling their goods and services beyond Britain’s borders. UK brands are loved and respected around the world for their quality and innovation.”