Volo Commerce have warned of the dangers of the UK possibly leaving the EU as it launched a report that reveals major Western European markets make up over 50% of the export destinations for online entrepreneurs.
As part of the Volo Online Retail Export Index, the figures show that export accounts for almost 20% of the developing online retail economy in the UK. Figures from the online multichannel specialist reveal that France and Germany alone constitute 40% of the exports for UK-based online retail SMEs.
Both Germany and France dwarf exports to the United States, with Italy and Spain also important, growing European markets. Other, non-European countries within the top 10 export destinations including Australia and Canada.
“The online, multi-channel entrepreneurs of UK plc are clearly making real progress in developing Europe as an export market,” said Paul Watson, CEO, Volo. “It is often tempting to see the U.S as the big market to crack, but our figures show that the trading relationship with Europe is as critical for the new generation of online entrepreneurs as it has been for older businesses. Export is a critical part of the thriving and rapidly developing online retail sector in the UK and much of this growth and success depends on the UK staying within the EU.”
“Online retail has caught up to the balance of the rest of the UK economy in record time. Europe accounts for 50% of all UK exports of goods and it is very impressive that the online community has achieved this figure in such a short period of time.”
The index also shows which markets across Europe are most lucrative: by comparing the number of parcels to the value of the market, the report indicates that Belgium, Sweden and Ireland are those countries that have the highest average value per parcel.
Whilst the merits of staying in the EU or leaving have already been discussed to death, it’ll be some time before the country gets their say in the promised referendum some time by 2017. Even with a vote to quit the EU, it would likely be some time before the country extricated itself.
What are you thought – will you vote in or out, and how do you think leaving the EU might affect your business?
More scare mongering. Richard Branson was on Andrew Marr last week threatening that the UK leaving the EU is going to result in export/import costs of 30% plus. Of course that’s absolute bollocks. As much as I admire Richard, he wanted us to join the Euro so I’m not taking any advise from him.
A No vote isn’t going to mean we leave the common market. It will make zero difference to business. Like Norway and Switzerland we’ll remain in the common market but free of the EU we’ll be able to access the billions of people around the world. China, India, Africa, South America, negotiate our own deals, something we cannot do in the EU.
I see a No vote as a pro vote for business and our economy. Sure, big corps don’t like it and Nissan might threaten to pull out of the UK but they’ll do that anyway when it suits them. Just as Cadbury moved it’s operation to Poland.
The world is changing fast and as a country in decline we have to think outside the box. Little Englander isn’t the one who wants to exit the EU, it’s those who are too afraid to go it alone. None of us would be in business if we had that attitude. I see a fantastic future for the UK economically outside the EU, far more successful than if we tie ourselves to this block of too many chief in the kitchen. It’s no wonder it takes them ten years to make any decisions.
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