The Federation of self-employed and small businesses (FSB) has called on the government to encourage more small businesses to export goods.
Commenting on the latest ONS trade data for August, which showed a further widening of the UK trade deficit, Mike Cherry, National Chairman at the Federation of Small Businesses, said:
“The success of the UK economy rests on helping more small businesses to export and it is worrying to see that the trade deficit has widened.
“As we prepare to leave the European Union it’s important both current exporters and those thinking about trading overseas continue to do so.
“Small businesses, particularly those in vulnerable positions, need additional help and support as they prepare for changes in our trading relationship with the EU. The government needs to do more to encourage exporting, making sure each cog of the supply chain is taken into consideration in any future trade agreements.
“Our research shows 21 per cent of UK small firms already export, and with the right support this could double. Small firms that export are more likely to survive, grow and innovate – contributing to the UK’s productivity and position as a global trading power.”