FSB concern about trade deficit

8 years ago

FSB concern about trade deficit

Commenting on the UK trade deficit for February which now stands at £4.8 billion, Mike Cherry, National Chairman at the Federation of Small Businesses (FSB), said:

“Since the start of this year, the trade deficit has widened significantly and this is of serious concern. Indeed, recent FSB research shows a worrying decline in export performance among small businesses.

“Small firms can make a significant contribution to the government’s target to increase the value of exports to £1 trillion and support 100,000 new exporters by 2020. But the government must ensure that the decision to refocus UKTI’s role and make exports a priority across government departments provides the right kind of support for those looking to export.”

Notes to Editors

1) Office of National Statistics, UK Trade, January 2016. 08 April 2016.

About the FSB

As experts in business, FSB offers members a wide range of vital business services, including advice, financial expertise, support and a powerful voice in Government. Its aim is to help smaller businesses achieve their ambitions. More information is available at www.fsb.org.uk. You can follow us on twitter @fsb_policy.

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About Federation of Small Businesses

The Federation of Small Businesses is the UK's largest campaigning pressure group promoting and protecting the interests of the self-employed and owners of small firms. Formed in 1974, it now has around 200,000 members across 33 regions and 188 branches.