With SMEs in the UK continuing to flourish and being hailed as the backbone of the British economy it may be time for them to set their sights further afield and expand their offering overseas.
This is something to think about, especially given the fact that Brexit has opened a lot of doors for businesses that are interested in doing more on a global scale.
While Brexit has sparked a lot of uncertainty in the market, it may be necessary for small British companies to set their sights further than home turf, where economic growth has stalled and inflation is rising again.
So many SME’s have the potential to expand overseas, especially in our increasingly digitised and connected culture where communication between countries and organisations is fluid and easy to achieve.
Unfortunately, many companies are looking upon Brexit as a wholly negative thing and choosing to hone in on the uncertainty that it is presenting. They aren’t looking at the bigger picture and recognising the potential that there is to turn their business into a global brand.
This is something that GIC Capital as a company can help them achieve with the range of funding options that we have available for SMEs. The working capital service that we offer is carried out by our team of handpicked lenders and will ensure that each and every SME has the ability to meet its full potential.
Expanding globally may be something that all SMEs need to consider, especially given the fact that consumers in the UK seem to be becoming more frugal with their finances.
Advances in technology is making it easier than ever for UK companies to export their goods as a wide pool of markets are now at their fingertips.
Online marketplaces like Amazon and eBay also mean that companies won’t have to funnel time and money into creating their own shopping portal for regional sales. Such websites are accessible globally and ensure that companies can engage with consumers from all corners of the globe.