Small Businesses

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A survey of small businesses carried out for YouGov has revealed that a significant number are looking at trading with other countries this year, as they aim to bounce back from the COVID-19 pandemic.

The survey was undertaken by Lawbite on behalf of YouGov, and it saw the former speak to a total of 791 small firms across the UK. The results show that over one third of them see themselves as liable to pursue overseas trading during 2021, with 38% stating that this was their plan. This would amount to 2.28 million companies in terms of market size.

What is most remarkable about the survey is that over half of all small manufacturing companies in the UK stated that trading with firms in Europe remained central to their plans for this year, despite the increased red tape and border issues that Brexit has created.

Just over one third of firms in this sector said that they would be switching their attentions to the Asian market instead because of these problems. Close to one quarter of all small businesses that took part in the survey said that they would trade more with other countries if it were less difficult in legal terms.

The results of the survey are certainly encouraging in the wake of the pandemic, showing that resolve among small firms remains strong, and many will also be planning for their financial futures with the help of a small business accountant in Goole or whichever region they are based in.

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