High trading costs 'deterring UK SMEs from expanding internationally'

Three quarters of UK small and medium-sized enterprises (SMEs) have scrapped plans to expand their business internationally as a result of rising trading costs, a survey has found.

26 Apr 2023

Three quarters of UK small and medium-sized enterprises (SMEs) have scrapped plans to expand their business internationally as a result of rising trading costs, a survey has found.

The survey, which was commissioned by currency solutions platform HedgeFlows, cited a lack of resources and training as barriers to international trade for UK small businesses. 68% of SMEs polled stated that their business lacks the technological infrastructure needed to trade internationally, whilst 72% said their business doesn't have the ability to manage foreign payments.

An additional 65% of SMEs surveyed revealed they lack the financial expertise that would be required for international expansion.

Commenting on the research, Neh Thaker, Co-Founder of HedgeFlows, said: 'SMEs are the beating heart of the UK economy, creating jobs and driving crucial growth in uncertain times. It's absurd that so many of our most ambitious and fast-growing businesses feel unable to expand internationally due to a lack of support and access to the tools they need to grow.

'The time has come to equip SMEs with a level playing field to expand internationally, giving them access to a suite of services required to manage overseas transactions, currency conversions and cashflows.'

ASSC partners acca-employer-trainee.png acca-employer-practising.png icas-cas.png

Home | About | Contact us | Accessibility | Disclaimer | Help | Site map |

© 2025 FBD Consultancy, Accounts & Tax Ltd. All rights reserved.

Directors: Brian K. Wright C.A., A.C.M.A., C.G.M.A. Anne N. Wright C.P.F.A. Co. Registration No: SC309527.
Registered Office: FBD Consultancy, Accounts & Tax Ltd, 2 Glasgow Road, Dennyloanhead, Glasgow FK4 1QF . VAT Registration No. 836 5445 10.

We use cookies on this website, you can find more information about cookies here.