Exporting - No Thanks - We’re British

Here’s an interesting stat which students might use in an exam answer on growing a business through international trade. 70% of UK businesses don’t export - and nearly all of those have no intention of trying! The data comes from a survey of 8,000 UK firms reported by the Telegraph. According to the article, most of the firms which have rejected exporting explained that their products and services were unsuitable for consumption overseas, while a fifth were quite happy living off their existing sales (i.e. demand from the domestic market).

The survey indicates that a reluctance to export might also be a cultural issue for the Brits. That suggests an inertia that is harder to change. With the government trying (and needing) to encourage an export-led economic recovery, the survey findings must be disappointing news.