The Digital Sales Tax War

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The Biden administration has warned it could slap 25% tariffs on British exports to the US after the UK levied a digital services tax on major technology companies.

Brought in last April, the digital services tax levies a 2% charge on the revenues of search engines, social media services and online marketplaces.

Complicated.  Read more here.

Small Digital Businesses Tap Into Global Trade Routes

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When it comes to the UK marketplace, eBay says that its Small Business Exports Index shows that of the 200,000 small digital UK firms trading:

• "93% fulfilled overseas sales in 2015, with each exporting to an average of 20 different territories
• This compares to just 28% of businesses without an online presence
• These British online businesses have an annual growth rate of 12%."

Small digital businesses are keen to tap into global trade routes for growth.

The top five most popular destinations for British exports via eBay are:

1. United States
2. Australia
3. Germany
4. France
5. Italy

In the article below, Kit Glover, Director of Professional Selling & Cross Border Trade at eBay, offers top tips for UK small online retailers exporting overseas.  Check them

out.

Digital businesses vital in quest to it trade targets, says eBay

Top Export Destination for British Firms?

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More than fifty-percent of small and medium-sized companies in the UK sell their products to the U.S., making it the top export destination for British firms.  Why?  To keep their businesses growing, they must look to foreign markets and the U.S. just happens to be a ripe one.

Research, by Barclays Business, shows that 37 per cent of small firms reach a growth ceiling in the UK within the first three years of trading, which is leading business leaders to turn to foreign shores.

Read the entire article:  U.S. Is the Top Destination For Small British Firms