Half of London companies are not even exploring trade activities abroad

Fewer than half of London’s businesses are taking advantage of opportunities to export and grow, according to a new report from the London Chamber of Commerce and Industry (LCCI).

The report, Exporting Britain: trading our way back to growth, found that 54% of London companies were not exploring trade activities abroad due to a range of factors including limitations in accessing finance, skills and appropriate air transport connectivity.

In order to increase the number of businesses exporting and to drive growth, the LCCI has called on the government to:

- Establish a national strategy for exports and growth to ensure that immigration policies do not obstruct London businesses’ efforts to trade,

- To commit to a swift timetable to implement measures recommended by the Airports Commission’s interim report, and

- To target greater numbers of SMEs by increasing private sector partnerships.

LCCI chief executive Colin Stanbridge said: “Despite the benefits that exporting can bring, many London companies are still not looking at the great opportunities that lie within overseas markets.

“Although a greater number of London businesses are involved in exporting compared with the rest of the UK, over half are not. Yet, to succeed in the ‘global race’, we need this to change.

“We want to see a coherent strategy to enhance greater export activity and ensure that the UK can trade its way back to growth.  A national strategy for exports and growth must be driven at a Cabinet level. Government will find business organisations keen to build the UK export profile.”  

 

 

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