Exports from SMEs in Britain have increased to their highest levels over the past two and a half years, according to new data from the CBI.
The CBI’s newest SME trends survey reported that 36% of SMEs had an increase in their orders during the first three months previous to April.
Also good news was the fact that while 26% of all the firms reported orders were still down, the 10% positive balance shows that there has been some movement of growth since January of 2008.
Manufactures stated that due to the fallen value of sterling export orders increased over what most observers expected.
About a third of the firms included in the survey also said that their export order volumes rose although ten percent reported they had decreased. This 18% balance is the best growth that has been seen since July of 1995 with domestic orders showing a marginal ride.
Chairman of the CBI’s SME Council, Russell Griggs, stated that smaller manufacturers within the UK are starting to see their hard works pay off along with the weak currency. He continued to say that domestic demand and production are starting to stabilize, exports are continuing to grow, and firms are starting to feel better about their overall prospects.
Griggs even added that since the demand is expected to increase over the next few months some manufacturers are going so far as to consider hiring extra staff to meet the increased demand over the next three months.