British business need to recognise overseas opportunities and be more proactive about pursuing international customers.

Lord Davies, minister for trade and investment, says: “Research shows that most businesses overestimate the risks and underestimate the benefits of exporting. It is vital we give British businesses world class support to make the most of global opportunities and increase their activity in overseas markets.”

A study by the British Chambers of Commerce found 43% of firms do not export as it does not feature in their business plan and of the 87% of exporters trading in Europe only a small minority encountered non-tariff barriers.