68 For gift sellers, international trade might seem like unfamiliar territory. The potential, however, is immense because untapped markets are always eager for something fresh. Currently, just 10 per cent of UK small businesses trade internationally, and that is a figure we urgently need to change. The Federation of Small Businesses (FSB) was asked to convene an SME Export Taskforce by Jonathan Reynolds MP when he was Shadow Business and Trade Secretary. Its mission is to break down the barriers preventing small businesses, including gift sellers, from accessing the global marketplace. By removing these obstacles, we can unlock new opportunity for small businesses to thrive internationally. As part of our research, we gathered real-world insights from businesses of all sizes to build practical solutions. The findings are clear – that small businesses are not receiving the support they need to confidently enter international markets. Whether it is navigating complicated trade agreements or finding the right financial support, gift sellers are often left without the guidance they need. Our taskforce identified five key solutions to help open the door to international trade for small businesses. First, all Government departments need to step out of their silos and work together on trade. International trade should be a priority for everyone, with clear goals that everyone supports. Aligning domestic and trade policies will help the UK get the most out of Free Trade Agreements. Second, it’s important to keep an open line with the business community. Trade laws and agreements should be created through honest and clear conversations, focusing on what small businesses need. Setting up a Senior Exports Council will make sure the business sector stays involved and policies stay on track. Third, the UK should lead the way on digital trade. Moving to paperless systems in global supply chains will cut down on paperwork and make things run more smoothly, helping small businesses trade internationally. Fourth, SMEs need strong support as soon as they start trading internationally. They should get expert advice and help with mindset challenges right from the beginning. This way, they’ll have the tools and support they need to succeed globally. Finally, we must tackle the finance gap. Small businesses need easier access to trade finance and fewer financial hurdles. This will help them take on international opportunities without the big financial risks that often hold them back. The benefits of these changes could be huge for small businesses. By cutting through confusing regulations and offering straightforward, practical support, we can help small businesses trade globally with confidence. After all, exporting gives businesses the chance to grow quickly and become more stable, even when the economy in the UK is tough. The key priorities we’ve identified have the power to completely change how small businesses approach international trade. The support we’ve received from people like Jonathan Reynolds MP in his new role, the Department for Business and Trade, the Labour Party, and key figures such as Gareth Thomas MP, who is now the Small Business and Exports Minister, has been vital in moving this forward. We’re also grateful to businesses like Amazon and Santander, whose input has been essential. Importantly, small business owners like those at Creative Nature and WineGB have provided valuable insights, offering a real look at what it’s like to navigate global trade as a UK business. The path ahead is clear. The opportunities are huge. And with the Government publishing its promised Industrial Strategy and setting up how it will operate to drive growth - small firms, SME exporters and potential exporters must be front-and-centre of that. FSB’s five-step plan to supercharge SME exports by Tina McKenzie FOOLPROOF PLAN ABOUT FSB As the UK’s business support group, FSB is the voice of the UK’s small businesses and the self-employed. Established over 40 years ago to help its members succeed in business, FSB is a non-profit making and non-party political organisation that’s led by its members, for its members. As the UK’s leading business campaigner, FSB is focused on delivering change which supports smaller businesses to grow and succeed. FSB offers members a wide range of vital business services, including access to finance, business banking, legal advice and support along with a powerful voice in Government. Each year FSB also runs the UK’s Celebrating Small Business Awards. More information is available at www.fsb.org.uk. You can follow us on twitter @fsb_policy and on Instagram @fsb_uk.
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