More than a third of UK small businesses are likely to trade overseas this year, according to a YouGov survey.
Lawbite surveyed 791 small businesses and found that 38 per cent are planning to trade overseas this year, which would equate to a market size of 2.28m firms.
However, despite the effects of Brexit border chaos and Covid-19 hitting consumer spending, more than half of the manufacturing firms polled said that they still plan to trade in Europe, with slightly more than a third saying they wanted to focus on Asia instead.
Almost a quarter of firms surveyed also revealed they would conduct more overseas trade if the legal barriers were less complicated.
Half of British exporters to the EU are facing complications in their export activities due to mounting red tape and border disruption, according to a survey recently published by the British Chambers of Commerce.
The survey were commissioned as part of the launch of an “International Legal Hub”, a partnership between LawBite, the digital challenger law platform, and Taylor Vinters LLP, the international legal and advisor business.
LawBite’s founder and CEO, Clive Rich, said: “Together with Taylor Vinters, we are helping SMEs cut costs and realise their full potential on the global stage.”