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Private companies need to do more to help small and medium sizedenterprises (SMEs) go global, according to influential Britishbusiness figures who attended the FedEx SME Export ReportRoundtable. Exporting has significantly changed as a result of thedigital channels, posing new challenges and opportunities forsmaller businesses.
FedEx Express, the world’s largest express transportation companyand a subsidiary of FedEx Corp. (NYSE: FDX), recently hosted anexclusive roundtable with 10 influential British business leadersrepresenting SMEs and business bodies, including British Chambersof Commerce, British American Business, Start-Up Britain andEnterprise Ireland. Delving deeper into the global opportunities,challenges and solutions influencing today’s exporting landscape,the roundtable discussed how they can assist SMEs and aspiringentrepreneurs looking to go global.
In today’s world, almost anyone can create an online shop withlittle investment and go global almost overnight. However,according to the roundtable delegates, it is no longer enough tojust have a website. SMEs need to be creative and utilise differentplatforms to connect with and capitalise on a global customerbase.
The rise of mobile commerce (m-commerce)—buying and sellingproducts and services through handheld devices—has meant computersand e-mail are becoming obsolete.
“People are walking around with an office in their pocket,” saidEdward Clarke, managing director Hub Operations for FedEx Expressin the UK.
Social media platforms also allow businesses to target particularcountries and demographics with the click of a button.
Technology plays an even larger role when considering GenerationZ. Currently in their teens, this generation will be many SMEs’customers in the very near future.
Clarke acknowledged that 11-to-15-year-olds are looking at newmarketing types, particularly digital, and have an expectation foronline shopping to be a fun as well as an enjoyable experience. Asa result, SMEs need to harness the technology available now toensure they appeal to this customer base in the future – putting onthe pressure to stay ahead and remain competitive.
The roundtable felt that government advice and online supportonly goes so far to help these businesses export, and SMEs shouldbe able to turn to corporations to develop fresh opportunities.
In this digital age, it remains critical for SMEs to physicallytravel to new markets and have face-to-face contact to help themdevelop fruitful relationships. Trade fairs and missions allow SMEsto establish new relationships and meet new customers, and thisease of access is more difficult when businesses are on their ownand is where organisations need to step in and help.
“SMEs with an online presence are almost propelled on to a globalstage overnight,” said Clarke. “New technology and technologicaladvancements have drastically evolved the exporting landscaping,providing a raft of new opportunities that have not been possiblebefore. SMEs need to take advantage and capitalise on developmentsto stay ahead and remain competitive. While there’s a whole host ofadvice available for smaller businesses, private businesses,including FedEx, have a big role to play in supporting SMEsstarting and growing their global journey, passing on the baton andproviding invaluable guidance.”