New research from Royal Mail, released as part of Small Business Advice week, looks at some of the reasons why the majority British small businesses don’t sell to customers overseas. Small Business Advice Week runs from the 5th to the 11th September.
The majority of UK small businesses (60%) are not exporting abroad, potentially missing out on millions of pounds in lost revenue, says the research.
The key reasons for not selling abroad include the perceived cost and complexity of getting through customs (26%), a lack of knowledge of the market (21%) and language barriers (21%).
The scale of the potential missed revenue is illustrated by the fact that among small businesses who sell internationally, just over a quarter of their sales (26%) this Christmas are expected to come from international orders.
35% of small businesses believe Europe holds the most potential to generate new sales for their business. 28% believe the USA and North America are the most promising markets.
Do you sell overseas? If so, what do you perceive as the benefits? And what are the problems? If not, why not?