Helping SMEs Across the UK Unleash Their International Potential

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FedEx Express has launched a Small Business £20,000 Grant that aims to help SMEs across the UK unleash their international potential by providing a platform to go global and expand their horizons.

“Small and medium businesses are the backbone of the economy and in order to help fast-track their growth, more often than not a ‘boost’ is required in terms of funding," says Martin Davidian Managing Director, Sales, UK North and Ireland, FedEx Express and TNT.

To enter the Small Business Grant, SME owners must register online and showcase their international ambitions and future business success for the judges’ consideration -- up until November 28.

Read more about the grant that helps boost British SMEs.

SMEs Are Increasingly Looking Beyond the EU for the Future Growth Plans

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Brexit is requiring small businesses to fundamentally reassess the way they do business internationally, with small business owners being forced to adjust to a vastly different trading landscape. That means looking beyond the European Union to new international markets to facilitate growth and expansion.

Many are investigating market that have a dedicated Amazon and eBay national site, a useful medium for online retailers seeking to break into new markets. "EU countries are still a major target for SMEs expansion plans, with 50% saying Germany was a priority foreign market, 44% saying France and 24% saying Italy," according to the Financial Director.

However, SMEs are increasingly looking beyond the EU for their future growth plans. 70% said that the US was a key priority for expansion, 41% said Australia and 27% said Canada, clearly indicating that large, developed and English-speaking nations lead the way outside of the EU. Beyond that, 16% said China was an opportunity for expansion, 12% said Japan and 9% said India.

Read more about how SMEs should tackle Brexit.

Things Are Looking Good for British SMEs

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The health of the British economy can have a significant impact for many U.S. businesses, both big and small. Good news: in 2018, things look like they’re going to be healthy for the British.

A year-end study conducted by AIG found that 40 percent of those questioned were planning for growth this coming year while only 19 percent were expecting a downturn.

Regardless, this is still good news for American businesses looking to do business in the U.K. But tread carefully: the risks for British companies surrounding Brexit – such as higher material costs, potential labor shortages and exchange rate volatility, remains high. Unfortunately, only a third of those firms surveyed had contingency plans in case there’s a “no deal” outcome.

Read more on why British businesses are bullish about 2018.