Half of county’s SMEs report fall in exports
Some 50% of small and medium enterprises (SMEs) in the county have decreased exports as a result of increased red tape due to Brexit, according to research commissioned by Kent County Council.
It also revealed 8% had stopped exports completely.
However, the survey, carried out by a team of experts from the universities of Kent and East Anglia, uncovered that 11% of SMEs had been begun exporting since the pandemic as a strategy to “build resilience and increase growth”.
The study, part of KCC’s EU-funded SME Internationalisation Exchange (SIE) project and the Kent International Business programme, polled the views of 316 managers anonymously.
Explains Dr Carmen Stoian from the University of Kent: “SMEs are key employers and
contributors to the UK’s economic growth.
“Through exporting they generate additional jobs, higher revenues and innovation.
“However, changes since the UK left the EU and Covid have created additional barriers
to exporting and placed new financial and human resources constraints on SMEs, raising the question of how best to support those SMEs that are still willing to export.
“The responses suggest SMEs require tailored support to their specific needs and depending on what stage in the exporting process they are at.”
Key stakeholders in the county are now looking at ways to develop new support initiatives in light of the findings.
Adds Dr Stoian: “To make the best of exporting, SME managers may also need to improve their digital skills and embrace digitalisation which appears to be increasingly important for accessing foreign markets and business growth.
“As the Kent International Business stakeholders consider how best to address the challenges faced by Kent SMEs, SMEs can make the best of a range of export support services already available through the Kent International Business programme.”