The benefits of exporting

There are a number of reasons why the CBI has decided to make exporting a priority for 2022.

As part of the CBI’s Seize the Moment campaign, launched last year, we identified several prizes reliant on the UK becoming a trading powerhouse. Exporting is a vital building block to seize the opportunities on offer.

CBI research showed that if the UK increased SME exports it could create £20bn in additional revenues. Further to that another £20bn in additional Gross Value Added (GVA) could be attained from defending the UK's existing share in growing global markets. Exporting can also lead to greater access to consumers and businesses globally, helping UK firms grow and our economy thrive.

The benefits of exporting

Starting with the benefits to business, exporting is all about increasing revenue and growing your business in new markets. With offices in London, Washington, Brussels, Delhi and Beijing, the CBI has the expertise and relationships with local government and partners to help firms grow. But it’s not just about revenue and growth. By opening businesses up to the competitive global environment, exporting can increase productivity and help firms become more innovative.  Importantly, as we saw with Covid, it'll also make firms more resilient.

Despite being a relatively small proportion of firms in the UK, companies that export currently generate 28% of UK GDP from international activity. Internationalisation is crucial to economic success. Exporting directly and indirectly supports jobs in communities. Exporting is the route to successful regions – helping level up the country by building the exporting capability of critical sectors, such as tech and clean economy - an ambition of the government’s recent exports strategy. By growing nascent clusters and attracting investment - business can put their region into a global marketplace.

And of course, consumers can also reap significant gains from the UK being an international, open, trading economy. Whether it’s having more choice, or cutting of production costs, exporting can help consumers case money.

Role of the CBI

Business has a key role to play in shaping, leading, and embracing the international agenda to help make the UK a more competitive, dynamic and future-focused economy.

Over the coming year, as well as building support for exporting with political stakeholders, the CBI is going to be engaging with firms across the country to understand business attitudes to exporting and creating tools to help businesses start their exporting journey. We’ll also be working with CBI members to share best practise from those leading the way in exporting – by FTSE companies supporting supply chains, for example.

For more information, check out the CBI’s exporting campaign or get in touch with Will or Hannah to find out how you can engage with our work.