Regional cities across the UK are bucking the trend when it comesto international trade as revealed in research released today byFedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and theworld’s largest express transportation company. According to thenew UK Export Epicentres Report by FedEx Express, the majority ofsmall and medium sized businesses (SMEs) across the country aredoing business overseas, with Bradford leading the way with an 86%export rate. In cities including Leicester, Oxford and Leeds, overthree quarters of SMEs are exceeding expectations by trading athigher levels than Britain’s larger cities of Manchester andLondon.
Exporting confidence within the capital has spread throughout theUK’s cities, with lesser known export epicentres now emerging tolead the race for international clients and custom. Bolstered bythe powerful influence of “Brand Britain”, a large majority (79%)of SMEs view their regional locality as a positive factor instimulating overseas growth and profitability. However, more than athird of those surveyed highlighted they require more support on alocal level to achieve international expansion.
“Now is the time to encourage UK SMEs to embrace their regionalidentities when building global relationships,” says Trevor Hoyle,Vice President, Northern Europe Operations, FedEx Express. “Withover 30 years’ experience capitalising on market trends in the UK,we’ve seen first-hand the wealth of benefits available to abusiness even at the very start of their export journey. Our mainaim is to give all Britain’s regions the support and guidance theyneed in order to help our customers compete on a global scale.”
The report showed there is no shortage in positive thinking aboutthe UK’s exporting future. 94% of SMEs feel optimistic about theyear ahead; with 8 in 10 believing their export sales will increaseagain over the same time period. With average annual export salestopping ￡1.9m in Portsmouth alone, strong growth is set to continuethroughout the rest of 2015 and beyond.
“This research has unveiled some fascinating insights into howregional self-perception and business optimism can be linked,”Hoyle added. “Our Great British history is rich and full ofindustrial heritage, the promotion of which can go a long way indriving UK exports forward. Although challenges still remain forsome companies in doing business abroad, they can be overcome byhaving access to the right support, expertise and network.”