Over twice as many UK businesses report declinein exports and blame ‘risky’ trading environment

• A third (36%) of exporting businesses have experienced a decline in export levels, twice as
  many as reported increases
• Nearly half feel there are too many risks involved with expanding internationally despite
  acknowledging the significant growth opportunity
• Exporting knowledge is surprisingly low and businesses make plea for more support

Analysis of the latest edition of the Department of Business and Trade’s national survey of registered
businesses’ exporting behaviours and attitudes1 by global financial services firm Ebury reveals a blend
of optimism and caution among UK businesses.
Among businesses who had exported goods over the past 12 months, more than a third (36%) said they
were exporting less than before, just 16% said they were exporting more than before, while four-in-10
(40%) said they exported the same amount.
Meanwhile, more than four-in-10 (44%) UK businesses – excluding those whose products or services
would never be suitable for export – felt that there were too many risks in taking a business international.
However, when these same businesses were asked if they agreed with the statement that there is a lot
of demand for UK products or services around the world, two-thirds (65%) agreed, while just 13%
disagreed. In fact, half (50%) of this group of businesses said that they felt there was a lot of opportunity
for their business to grow internationally.
Interestingly, when this group of businesses were asked to judge their knowledge of how to export, more
than a third (35%) said they had poor or no knowledge, while 44% said they had a moderate knowledge,
leaving just a fifth (21%) who claimed to have a high level of knowledge.
Two in five (41%) businesses who could export if required felt that there was not a lot of support available
to help SMEs start or continue exporting.

Phil Monkhouse, UK Country Manager at global financial services firm Ebury, commented: “UK
businesses have faced a slew of challenges in recent years – from navigating the end of the Brexit
transition and an unprecedented global pandemic, to now contending with US tariff uncertainties and
geopolitical issues that threaten higher costs, FX volatility, and supply chain disruptions.
“And while there is both strong appetite to grow internationally and a recognition of the opportunity to
expand, it seems that for many businesses this presents just too much risk. Low knowledge and a lack of
support underpin this attitude which could be holding many British businesses back.

“It is important that firms are aware of the specialist help that is available to them to reduce risk such as
FX hedging, access to trade finance and streamlined cross-border services. Additionally, the Government
provides a comprehensive range of free-to-use resources that can provide further support.
“Despite the uncertain macro-economic, exporting offers a significant opportunity for growth and Ebury
will always champion and support those businesses who do take the leap to trade internationally.”