More UK e-tailers are considering international expansion than ever before, according to eCommerce experts Space 48.
Latest figures reveal that 25% of Space 48’s customers are now planning a move abroad, compared to just 20% in 2013.
In addition, 70% of the firm’s new business prospects now cite global growth in their expansion plans.
Experts are predicting that, while a lack of adequate online presence has led to brands traditionally struggling with international expansion, the spike in ecommerce websites now launching globally will provide UK businesses with never-seen-before opportunities.
Santander’s recent business growth survey revealed the number of business owners looking to other countries to grow their business has doubled since 2013, with 6% of UK-based SMEs seeking the financial rewards that come with overseas trade.
Space 48 managing director Jon Woodall said expanding into different countries is great way to grow a business and reap financial rewards, if executed correctly.
“Exporting is a key factor to the UK’s economic success and with all the emphasis UKTI, the Government and other leading bodies are putting on the issue currently, it’s something we’re only set to see become more prominent,” he said.
“However, launching an international website comes with its obstacles and a ‘one size fits all’ strategy when looking to enter multiple overseas markets simply isn’t feasible. Different regulations, customs, payment gateways and language barriers are just some of the complications which may have prevented companies from taking the leap in the past.”