Research by CitySprint shows that the EU is still a key market for SMEs despite Brexit. The research found that 24% of those surveyed plan to look overseas to grow their customer base in the coming months.

Within the export group, 78% are looking at the EU as a target for new business. The US follows up at 55% and Asia comes up at 36%.

The CitySprint research shows that SMEs see lower customer demand and Brexit as barriers to success in the next 12 months. Unlocking new markets is of critical importance to success.

More than half are looking within the UK to grow their business – 52% will be marketing within the UK this coming year.

CitySprint chief executive Patrick Gallagher said, “The UK’s smaller enterprises show no shortage of ambition when it comes to exploring new markets. While overall SME confidence has dropped since 2015 it is great to see so many SMEs, especially those outside of London, showing no fear in the face international opportunity.”