While the post-Brexit UK-EU Trade and Cooperation Agreement secured tariff- and quota-free trade with the UK’s largest trading partner, only 9% of the British SMEs are currently exporting. A report from the Social Market Foundation, commissioned by the E-Commerce Trade Commission has also found that the proportion of SMEs exporting is declining, from representing 40% of total UK exporters in 2010 to 30% in 2020.
Non-tariff barriers – including new documentary requirements and the need to comply with trade deals’ rules of origin to qualify for preferential tariffs – are thought to be the main factors behind this. Issues around accessibility and awareness are also thought to be holding British SMEs back from trading overseas, according to the report.
This one-hour webinar assessed the challenges identified by the report and how SMEs from all parts of the country and demographics can overcome these. The webinar was hosted in partnership with Alibaba Group, which gave an overview of the obstacles faced by SMEs trading internationally online and solutions for growing overseas E-Commerce B2B sales. The webinar covered:
- An overview of findings from the Social Market Foundation’s report on barriers to SME trade
- Analysis of the obstacles faced in online trade by SMEs and solutions for overcoming these
- Growth opportunities in international B2B trade for SMEs – including emerging markets and trade tech
- Introduction to Alibaba.com, a leading global B2B online platform with 47 million active buyers in 200+ markets, supporting UK businesses in reaching and matching with new buyers around the world
The E-Commerce Trade Commission was convened by the Chartered Institute in June 2023 and counts Alibaba Group among its board members. It has a two-year remit and advises into the Department for Business and Trade on how the government can increase the number of British SMEs trading internationally using E-Commerce platforms.