SMEs ‘have mental block’ on exporting

Research by Ulster Bank has found that many small businesses have a mental block when it comes to exporting outside of Ireland.

Following a series of meetings with the hundreds of small businesses across Ireland, as part of the Ulster Bank Business Live series of events, Fionan Murray, co-founder of Smallbusinesscan.com said there is a psychological barrier holding many small firms back.

“They don’t realise how much support there is available through government agencies, business bodies and other companies.

“They also don’t realise that exporting can be simple, without the need for big logistics operations and sales teams.”

Over the meetings with small businesses, Mr Murray found that many small businesses see exporting as a big risk, particularly in relation to culture, currency and getting paid.

He also found that firms do not know where to start with regard to exporting and do not realise the extent of support available.

Firms that are now successfully exporting began by taking small steps that were part of a longer journey.

“One of the most inspiring things evident from Business Live is that there are hundreds of small firms on the island opting out of the recession by focusing on selling abroad, trading with countries all over the world, from selling accessories for dogs to Australia, to selling food production assembly lines to China,” said Mr Murray.

Managing director of corporate markets at Ulster Bank, David Thomas, said: “It’s encouraging to see so many local companies who are successfully doing business overseas.

“As local economies continue to face challenges, it is important for enterprising businesses to look at the opportunities available in other markets.

“These events have showcased that small businesses can export, and I hope it has inspired many of those who attended to look further into their exporting potential.”