Smaller exporters have great expectations to capitalise on the weakness of the pound

Oliver Gill
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Input costs are on the rise for business as a result of the pound's weakening

Small business exporters are starting to enjoy a Brexit boost from the weakness in the pound and have the strongest expectations for growth in nearly 30 years.

Export orders, which have been declining since mid-2014, were flat over the last three months to October.

Meanwhile, expectations of a growth in export orders are at there strongest levels since 1988 according research prepared by the Confederation of British Industry (CBI).

"Smaller manufacturers are increasingly confident about their export prospects in the months ahead as they continue to reap benefits from the weaker pound," said Rain Newton-Smith, the CBI chief economist.

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However, the slump in sterling was having an adverse affect on costs at Britain's small and medium-sized companies.

Manufacturers said that input costs were rising at their fastest pace since April 2013 and that this rise was expected to continue over the next three months.

Read more: Small businesses aren't thinking global. Here's how to change it

“While investment intentions have improved, uncertainty among businesses remains high, and so the government must prioritise measures to ensure that firms keep investing ahead, like removing new plant and machinery spending from business rate calculations," said Newton-Smith.

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