When many of us think about international brands, it is the huge players that often come to mind, Nike, Apple or Coca Cola. In many countries around the world it is SME’s that dominate export markets. In the UK SMEs and micro businesses account for 85% of all exporting businesses. It’s a similar situation on the other side of the world, in Australia 88% of goods exporters are SMEs and this is a figure the Australian government is actively trying to grow.
In the US SMEs are the backbone of the export economy. They are responsible for two-thirds of new private sector jobs in the last few decades and they represent 98% of all identified US exporters.
If you are in the process of expanding your SME’s offering internationally, know you are not alone. Despite logistical and supply chain issues as the world emerges from Covid-19 and the ongoing invasion in Ukraine, there remains significant opportunity in the global market.