According to a study by telecommunications company O2 of more than 500 companies, 40 per cent are set to move into international markets over the next year, with a third claiming overseas economies are increasingly more welcoming to small businesses.

Six of the top ten markets of choice are outside Europe, with the most popular target destination for business growth being the United States, Britain’s largest export market.

Andrew Cahn, chief executive of UK Trade & Investment, says: ‘Small businesses need not be cut off from the global marketplace or feel that international business is only for big companies.

In fact, for many smaller firms, trading abroad can be the path to greater success and growth.’