Over half of UK small businesses see Europe as the international market offering the greatest opportunity for their business, according to new research from Small Business Institute, released ahead of International Trade Week. However, recent Government data shows that just 18% of small businesses (SMEs) export goods or services, highlighting the significant potential for more UK small businesses to expand their international reach.
SME’s account for 99% of all UK businesses and around half of private sector turnover, underlining their importance in the wider UK economy.
Strengthening European trade relationships
The findings come as Prime Minister Andy Burham seeks to strengthen trading relationships with Europe. New agreements include eliminating controls on food and agricultural goods crossing the Channel and Irish Sea. This is expected to be progressed at the EU-UK summit later this month.
As the UK marks International Trade Week, Small Business Britain, in partnership with the Department for Business, Innovation, Science and Trade, will host Great British Pitch Europe on 11th November. It will aim to help more UK entrepreneurs capitalise on opportunities in the European market.
Connecting UK businesses with European buyers
The event will see 50 export-ready UK small businesses pitch live to a panel of European buyers across the food & drink, consumer and retail sectors. Entrepreneurs will receive tailored training and coaching before pitching via livestream. It will also benefit from a comprehensive post-event support package.
Attendees will hear expert talks and panel discussions covering topics including navigating trading post-Brexit, the benefits of environmental credentials when appealing to a European consumer, and practical guidance on getting started with exporting.
The one-day event will also feature a Q&A with Josie Morris MBE, Founder of WoolCool sharing insights from the company’s experience and support in helping businesses trade with European markets. Building on the success of Great British Pitch India and US, the event forms part of Small Business Britain’s flagship Great British Pitch campaign, supporting small businesses to develop their export ambitions and access new international markets.
Michelle Ovens CBE, CEO and Founder of Small Business Britain and adviser to the UK Government’s Board of Trade, said, “Europe presents a huge opportunity for UK small businesses. It’s encouraging to see so many entrepreneurs recognising the potential for growth through international trade.
“However, it’s clear we still need to do more to create an environment where small businesses can trade successfully with Europe and beyond. International Trade Week is an important opportunity to put exporting in the spotlight. I’m excited to see what success comes out of Great British Pitch Europe as we see more small businesses continue to make a vital contribution the UK economy through international trade.”
