Millions of businesses in the UK sell goods online to buyers both at home and abroad, but keeping foreign currency charges to a minimum should be a priority if you want to maximise profits.

 

Businesses which sell online via marketplaces such as Amazon, Etsy and eBay added an estimated £11 billion to UK exports last year, according to a report commissioned by international payment specialists WorldFirst. This is forecast to grow to £21.3 billion by 2020.

 

The report, carried out by the Centre for Economics and Business Research (Cebr) says that over half of ‘iStreet sellers’ – defined as business with less than 50 employees who sell goods and services using online marketplaces – have seen growth in the last 12 months, with the EU the most popular trading destination.

 

Last year’s Brexit result certainly hasn’t dented the confidence of internationally trading businesses, with separate research from foreign exchange and international payments experts Moneycorp showing that EU currency transactions increased 100% in eight weeks following the referendum vote.

 

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