Made in Britain sales power multiplies as small exporters reveal most lucrative markets
A quarter of small business owners sawan uplift in overseas interest for UK products in the last year, as new research reveals the growing strength of the Made in Britain brand.
The study, by online auction giant eBay, confirmed the international perception of British-made goods as high quality, with locally-sourced and hand-made products becoming a winning formula for many small exporters.
Positive associations around national institutions, such as the BBC and the Royal Family, also continued to boost the reputation of UK businesses abroad.
According to the Office for National Statistics (ONS), the UK exported 550bn in goods and services in 2016. On eBay’s platform, 93 per cent of 200, 000 UK sellers are currently trading with an average 20 different countries.
Renewed enthusiasm for hand-crafted British products injected optimism into the small business community, with one in ten small business owners planning to enter new markets in 2017.
After one in four respondents cited greater export sales since the EU referendum in June 2016, the findings also put to bed fears that the Brexit vote would harm the reputation of “Brand Britain”.
Commenting on the current strength of British exports, Gareth Jones, eBay UK marketing director, said depreciation of the pound had benefitted entrepreneurs in the last 12 months.
the UK is going through a period of change that has led to fears that our image abroad could be harmed. But the business fundamentals of ‘Brand Britain’ remain strong: trusted, quality products and good customer service. Small businesses are benefiting from this association and boosting their export plans to take advantage.
this is good news for the economy and for eBay in the UK, which hosts over 200, 000 of these enterprises, giving access to a global customer base of over 164m people.
However, despite growing exporting value formade in Britain, a third of respondents believed Britain’s formal exit from the EU would lead to greater economic protectionism with the potential to stifle sales.
eBay’s Business Index showed which categories had been most lucrative for sellers in the past year, with small fashion brands finding the most success.
The most popular British items for overseas customers
Clothes, shoes and accessories
Mobile phones and communication
Home, furniture and DIY
Computers and tablets
Office and industrial
Jewellery and watches
Health and beauty
The indexalso revealed the top five export markets for British goods on eBay
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