UK exporters cite non-payment as biggest risk

UK exporters cite non-payment as biggest risk

UK exporters report that the fear of not getting paid for goods and services is the main barrier to exporting, according to research from NatWest and RBS.

With Europe being the primary export destination for UK goods, the current instability is helping to fuel such fears and could potentially bring an end to hopes of an export-led recovery.

A lack of demand in Europe will see more exporters needing to look further afield at emerging markets. Just under half of respondents to the NatWest and RBS survey report that they see opportunities in Asia.

Yet a further barrier to exporting is the lack of knowledge about how to export. Over half of those surveyed claim they are ill-informed about how to access financing.

“Despite economic uncertainty, UK businesses are still hungry to trade overseas and 65% of them feel it is vital to economic recovery. The lack of tools and knowledge are clearly a hindrance and we are here to help them to take a leap into the exporting market,” comments Aidene Walsh, head of UK global transaction services at RBS.