Yorkshire exports ready for expansion

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Published: Friday 26th June 2015 by The News Editor

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Thousands of small firms in Yorkshire and the Humber region are set to start exporting for the first time over the next year, experts are predicting.

Yorkshire Bank believes that roughly 17,600 SMEs throughout the region hope to begin selling services and goods abroad.

Overseas sales will represent nearly a sixth (16%) of exporting firms’ turnover, local exporters predict, while most think foreign sales will rise markedly during this time scale.

Such confidence comes amid a challenging business climate for firms exporting from the UK.

In March, 1 euro would have got you 17p less than it did only seven months earlier, as its value dipped from roughly 87p to around 70p. This has undermined demand for British products.

Yet only 2% of Yorkshire’s SME anticipate their overseas presence will fall in the coming 12 months.

London and East Midlands-based companies are the ones most likely to begin exporting, according to the Bank’s report.

Copyright Press Association 2015

Published: Friday 26th June 2015 by The News Editor

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