Cheltenham: 01242 260066 | Bristol: 0117 933 5710 | Email accountants@mitchells.org

Research suggests 'less than a quarter' of UK SMEs plan to expand overseas

26 Apr 2019

Research carried out by DocuSign has found that just 22% of small and medium-sized enterprises (SMEs) plan to expand their business beyond the UK.

SMEs stated that the most significant barriers to growth include a lack of available finance, a lack of inexperience and large amounts of red tape.

The survey of 1,000 small business owners also suggested that a 'perceived deficiency' in skills is 'holding them back'. The skills owners most regret not having are accounting and finance skills (22%) and IT and digital skills (19%).

Furthermore, the research revealed that confidence levels amongst SMEs have 'plummeted' as a result of trade uncertainty facing the UK.

'Growing a business across borders is challenging, particularly in times of macro-economic uncertainty,' said Ronan Copeland, Vice President of Commercial Sales at DocuSign.

'As such, it is perhaps unsurprising that many small and medium-sized businesses (SMBs) are focusing their efforts on the UK. Confidence plays a big part, and this is borne out by the results of our latest survey.'

Try a site search Tax returns, budget, pension, rates and allowances...

Contact details

Cheltenham Office: 01242 260066
Bristol Office: 0117 933 5710

Company Registration No: 4161638
Company Registered in England and Wales.
Company details
Mitchell Glanville Limited
Registered Address: 41 Rodney Road, Cheltenham, Gloucestershire GL50 1HX

Bristol Office: The Garden Suite, 23 Westfield Park, Redland, Bristol BS6 6LT
Mitchell Glanville Limited regulated by the Institute of Chartered Accountants in England and Wales
Mitchell Glanville (Bristol) Limited regulated by the Association of Chartered Certified Accountants

© 2020 Mitchells Chartered Accountants. All rights reserved. We use cookies on this website, you can find more information about cookies here.