Local businesses are “punching above their weight” when it comes to exploiting international opportunites, according to a leading Dundee industry figure.
Alan Mitchell, chief executive of Dundee and Angus Chamber of Commerce, was responding to a new survey that found many Scottish businesses are failing to take advantage of global export markets.
The Bank of Scotland study discovered only a third of small and medium-sized enterprises are exporting to other markets.
But Mr Mitchell said many firms in Dundee and Angus were recognised for leading the way in the field.
“I think Dundee and Angus probably punches above its weight a little bit when it comes to international opportunities,” he told The Courier.
“If you look at the engineering and manufacturing firms in Dundee, there is a lot of exporting going on. Certainly, the big players are gone but there are still many that do operate in the international market.
“That’s not to say there are not businesses who could and should be looking at international markets who for various reasons have not yet done so.Rewards”We would urge them to investigate these opportunities because the rewards of doing so have been shown to be great.”
The survey found that fears over late payments, language barriers and foreign currency fluctuations were among the reasons given by Scottish businesses for avoiding international markets.
It also found these fears had been added to recently due to travel uncertainty caused by the volcanic ash cloud.
But Donald Kerr, commercial banking director at Bank of Scotland, said export markets were a “world of opportunity” for small businesses in Scotland.
“Many firms are turning overseas demand and a weaker sterling to their advantage as they seek to grow,” he said.
“Others are clearly missing a trick. While exporting may have traditionally been seen as only suitable to companies in industries such as manufacturing, firms operating in other sectors have the opportunity to explore new markets and assess international demand for their products.
“Despite the recent disruptions and associated drop in confidence caused by the volcanic ash cloud, at a time when domestic demand is subdued, thousands of small firms could still benefit from markets overseas.
“Although traditional markets in Europe and the US will remain the main targets for most firms, there is real potential across the Middle East and Asia which is as yet untapped,” he added.