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SMEs Should Protect Cash Flow, As Exports Expect Rise

UK business could be set for a major boost as large numbers of SMEs predict their turnover from exports will jump in the next year, according to a new report.

 

Despite sluggish growth within the manufacturing industry, as well as stunted productivity, export levels are expected to rise. This rise in demand for British products reflects an improvement in British and European communications, increasing hope in the success of the UK government’s talks with Brussels.

A report conducted by financial providers, Smith & Williamson, found that medium-sized businesses were confident about overseas revenue, with 61 per cent predicting an increase. No doubt hindered by late payment’s continued torment, small businesses are not so optimistic. According to Smith & Williamson, firms with 10-49 employees forecast a drop in export revenue, with only 34 per cent of businesses expressing positive sentiment.

Sidestepping the small business plight, the economic picture of the UK has brightened. This new report follows HMRC data released earlier this month, which found the value of exports in England to have increased by 6.5 per cent. This is sure to give the economy and business confidence a boost, and dispel some of the uncertainty that has lingered ever since the referendum back in 2016.

Nevermind the trajectory of the economy, British businesses should always ensure their finances are in the best shape. All business owners should have the financial stability to benefit from upturns as well as the very worst slumps. At the Credit Protection Association, our debt recovery services recover the cash for our Members, while our credit management products protect it.

Stephen Drew, head of international services at Smith & Williamson, said: “We have a lot of very ambitious businesses here in the UK who are striving to extend their reach to new markets, whether it’s through finding international customers to sell to or setting up overseas operations.

Exports from all UK countries are on the rise, so there is a clear growing global demand for UK goods and services, despite any complications being caused by the Brexit process.

“Any aspiring entrepreneur with an opportunity to expand overseas should grasp it. Whether they’re early stage or mature, it’s often the businesses that reach across borders and successfully enter new markets that achieve the fastest growth.”

According to HMRC’s June data, the value of exports from England is up 6.5% on last year, while Scottish, Welsh and Northern Irish exports value has increased by 12.1%, 7.1% and 4.9% respectively.

 Securing the success of British exports and imports is fundamental to the country’s survival after Brexit. The better the demand for British products and services, the brighter the future becomes for trade relationships between the UK and rival economies. Exports from the UK may have improved, but businesses shouldn’t allow complacency. Instead, business owners should ensure that the management of their finances will not hinder it on the occasion that demand falters.
At the Credit Protection Association, our expertise are focussed on protecting financial power as much as they are at attaining it. When business owners experience upturns in economic activity they should have the tools to protect it, ensuring their cash can be used in boosting the economy and not lining the pockets of late payers.
Our CPA credit checks, status reports and company directories protect the good payers and dispel the bad payers, affording our Members with a stronger financial structure. This will allow business owners to invest in their business, improve productivity through new technology or products, and ensure the rise in exports is not the only improvement rivals will see to the British image.

Please call us on 0330 053 9263 to discuss how CPA can help your cashflow.
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The Latest Insolvencies to 22 Jun 2018

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