America is the big opportunity for small business

The Federation of Small Business (FSB) confirms that the US, which is already the UK’s largest trading partner, should be top of the list for UK SMEs looking to build export trade outside Europe.

The US tops the list for UK small businesses to trade with outside Europe, with FSB reporting that 59% of UK small exporters sell goods to the US, their most popular non-European export market, followed by Australia (44%) and Canada (36%).

The US is also the top sourcing market for UK small importers outside Europe, with almost a third (32%) buying goods from the States. China is placed the second (30%), just before India (9%).

FSB Policy Chair Tina McKenzie said: “The US is the UK’s biggest individual trading partner in the world. Our research further shows the importance of closer US-UK trade relations to the small business community.

“Bringing down trade barriers facing small firms must be at the front and centre of trade discussions. Small firms’ success in the global market will be fundamental to attainment of the UK’s growth plans.”

Despite the positive outlook, nearly a quarter of SMEs have yet to begin selling overseas and many businesses that do export have experienced supply chain and logistical issues, increased paperwork and red tape.

For British businesses, exporting is integral to their success and international markets represent their best chance of transforming their business potential. It is essential that they find effective parters, like Noatum Logistics, who can manage their exports effectively, to accelerate growth and unlock global opportunities.

Total trade in goods and services (exports plus imports) between the UK and United States was £279.2 billion in 2022, an increase of 23.7% on 2021.

While the United States is one of the easiest countries to do business with, it does pose challenges that catch out unprepared companies, that are attempting to access the US market for the first time.

With Noatum Logistics offices positioned across the continental USA we can support UK exporters looking to start exporting or expand its export activity, regardless of size, sector or market.

If you are thinking of trading with the United States, we can advise you on trade regulations, law and business culture and guide you through licensing and compliance requirements at federal and state level, so that you are prepared to access the US market successfully.

We are US experts, with daily import/export air and sea freight services, with National Custom Broker coverage, including same day Clearance and delivery through many gateways.

EMAIL Matt Fullard for more information, advice and guidance.