Since the UK voted to leave the EU in June, British companies have seen a surge in international sales.
In response to the post-Brexit slump in the value of the pound, PayPal reported that small and medium-sized businesses (SMEs) in the UK saw international PayPal sales more than triple.
Foreign shoppers spent 10 percent more than UK SMEs from January to June 2016, and then the rate of growth trebled to 34 percent from July to December.
According to PayPal UK’s Mark Brant, online SMEs are well prepared to navigate the unpredictable market conditions following the EU referendum.
Even once Prime Minister Theresa May’s government triggers official exit proceedings, economists warn the battered pound will trade at record lows.
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