A leading UK logistics provider has urged the new labour government to prioritise support to SMEs which seek to expand their presence internationally.
The vast majority of businesses within the UK are SMEs, employing 16.7 million people and contributing £2.4 trillion per year to the economy. Increased bureaucratic and logistical challenges have led to a significant contraction in the UK’s goods exports since 2019, surpassing declines in competitve G7 countries.
After the pandemic, most advanced countries have witnessed a bounce-back in goods trade, however the UK hasn’t. Reducing the amount of unnecessary red tape and providing bespoke guidance for businesses would help to fostergrowth and reverse the decline in UK goods exports over the coming years.