A report which has been commissioned by DHL Express, reveals that sales of fashion clothing overseas are expected to double within two years, according to 65 percent of small businesses surveyed. British Small and Medium Enterprise in the fashion trade believe that the overseas demand for fashions manufactured in Britain is on the increase, but they need more help to be able to raise their profile abroad and grow.
Britain has seen demand rise in the clothing industry and this has been attributed to style icons in the UK, like Kate Middleton. The growth in the sector could be beneficial for other areas of the UK and could provide a boost to growth of the economy overall. Despite the increase in demand, 66 percent of the UK SMEs surveyed said that they wouldn’t be expanding their business to meet the new demand, as more help and support was required to help UK businesses grow.
According to 21 percent of businesses surveyed, trade missions are the way to maximise gains from international trade, while 17 percent are looking to increased tax relief for exporters to help increase international trade. The creative director of Fashion Fringe, Colin McDowell said:
“In order to facilitate this demand and, in turn, business growth, British fashion businesses need support to navigate the choppy waters of international trade.”
The SMEs in the fashion industry, who took part in the research, all trade overseas, with 70 percent believing that the quality of British fashion is the number one reason for international demand. Value for money was cited as a reason by 28 percent of the companies surveyed.
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