Western Union Business Solutions comments on ‘exporting is great’ campaign
Tony Crivelli, UK & european managing director at Western Union Business Solutions, said:
“It’s encouraging to see that the government is supporting businesses with initiatives to trade overseas such as ‘exporting is great’ but much more still needs to be done to help SMEs find new markets to drive growth and job creation.
“Our own independent research with UK SMEs found they now get over a quarter (27.2%) of their revenue from exports and that four in ten (41.3%) increased exports in 2015. SMEs are fairly bullish about increasing exports further in 2016 with nearly a third (29.6%) planning to grow their business this year.
“Yet access to affordable credit remains a key problem to growth. Two thirds (63.7%) of SMEs stated that it was difficult or very difficult to get credit in the past 12 months, and 44.1% cited credit availability as a main issue of concern. With limited credit and rising business costs, it is little surprise that 65.5% of SMEs cited cash flow as a major issue of concern.”