A recent collection of data and information provided by logistics giant FedEx has demonstrated that small-to-medium enterprises all over Great Britain are furthering the growth of exports for the country due to the lowered rate of the pound sterling. As the MD of UK Ground Operations for the company that is FedEx Express Ed Clarke says, SMEs in the UK are the essential bedrock of ensuring that the British economy thrives and keeps expanding in the future.
The fluctuations of the pound rates that are occurring at the moment are therefore obviously a good chance for British businesses to increase their export rates to other countries in Europe and the rest of the world, which they have done as shown by a 63 per cent majority. The rise in e-commerce has also been reported to be at a significant high at a grand total of 81 per cent and the report also demonstrates that 59 per cent of the income generated by SMEs is done through the exports that they enact. This survey clearly indicates that Britain has many valuable contributions to make to the European economy and indeed to the rest of the world: on the other hand, the decreased value of the pound will mean that European countries will be able to benefit from cheaper rates and that businesses working with the exchange rates will be at a significant disadvantage.
Similarly, Britain’s impending exit from the European Union means that it will face economic uncertainty that is already affecting many SMEs around the world. It is nice however to see that Ed Clarke is congratulating SMEs and showing that the 9,000 interviewees working in SMEs that were used to collect the data are confident that they will continue to deliver and profit from the rise in export rates. Whether this confidence remains over the next few weeks (let alone months) remain yet to be seen.