Many Limited companies are ‘embracing’ international trade, finds new report
New findings have revealed that many Limited company contractors and other smaller sized firms are currently trading overseas.
Research from Avanta has found that after surveying over 200 of its small business customers in the Capital, 60% are currently trading overseas, and 33% are considering setting up a base or office abroad.
The report, which researched small firm’s views and experiences of trading both in London and around the world, found that of those businesses trading internationally, the majority are exporting, with 94% saying they sell overseas.
When firms were asked what countries they are trading with, 48% said that the Eurozone came top of the list, followed by other EU countries at 29%.
Alan Pepper, CEO of Avanta, commented, “Trading overseas is a fantastic way of growing a business, opening up entirely new markets and opportunities for ambitious entrepreneurs.
“British SMEs have traditionally been cautious about selling their products outside the UK however our survey shows that small businesses in London are now crossing borders in their droves. And what better base than London, arguably the most international city in the world, from which to trade.”
Baroness Jo Valentine, Chief Executive of London First, added, “Since London merchants set sail for the East Indies over three hundred years ago, our capital has been one of the world’s leading exporters. I am delighted that many smaller businesses in London are helping to maintain this global position today, and are reaping the economic benefits of trading beyond our borders.”
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