Small businesses should seize the opportunities that exist online and in emerging markets in order to boost their international trade, according to an industry-led commission.
The E-Commerce Trade Commission was convened in June 2023 on the recommendation of a report by the Social Market Foundation, which found that encouraging 70,000 small businesses that don’t currently export to do so, using online platforms, could generate £9.3bn in additional value for the UK economy.
At a free webinar next Wednesday (9 October), experts from the commission will share their findings so far on how to encourage these SMEs to trade overseas, including practical tips for businesses on how they can succeed internationally using online channels.
‘Inspired, encouraged, informed’
Grace Thompson, the UK public affairs lead at the Chartered Institute of Export & International Trade, which convened and chairs the commission, says businesses should listen in to the webinar next week to be “inspired, encouraged and informed”.
“The commission’s recent report, ‘Small Business, Big World’, shows that there are ample opportunities in the inherently global digital market for businesses to grow their international sales and customer base.
“I’m looking forward to sharing the conclusions of the report at next week’s webinar – including the commission’s recommendations to government on how it can support these businesses to export online.
“We’ll also be hearing practical advice from Alibaba.com and exporting business Coffeelink about how firms can make the most of online platforms to boost their trade.”
Three priorities
The report cited by Thompson recommends that the new government prioritise three policy areas to encourage more small businesses to trade internationally.
These are:
- Trade tech adoption
- Support for female-led business owners
- Market access support in emerging markets
Expert panel
The webinar, hosted by the Chartered Institute, is looking at ‘how get more SMEs to trade internationally online’ and is taking place at 2pm on Wednesday 9 October.
Thompson will be joined on the panel by Alibaba.com’s EU strategic partnership manager Margherita Mistura and Coffeelink’s trading and procurement manager Sarah Carrington.
The webinar is free to attend and you can register for it here.