This has led some of them to look for business in more obscure places, such as Estonia.

If I was asked to name Estonia's most famous export to the UK, beyond former Derby County goalkeeper Mart Poom, then I would be struggling.

Asked what we export to Estonia, once again, it would be phone-a-friend time.

The preconception some people may have of this small Baltic state, overlooking the Gulf of Finland, is of an underdeveloped former Soviet backwater.

But when you visit the capital city, Tallinn, you realise this is definitely not the case.

Tallinn is a modern city, with many western overtones, soon to be fortified by the fact that, next year, Estonia is expected to join the euro.

There is much debate about whether this is the right move, if you look at the pickle Greece is in, but Estonians are convinced that joining the currency will make it easier to trade with other EU countries.

According to the European Commission, Estonia, which has a population of 1.3 million, has a pretty sound economy, particularly compared to the other Baltic republic states of Latvia and Lithuania.

And out of all the countries in Europe, Estonia is very keen to trade with Britain.

The British ambassador to Estonia, Peter Carter, told me that the Estonians have loved the Brits ever since the Royal Navy sent a warship to the area in 1918 to stop them being bullied by the Russians.

Some of our local companies have already secured a foothold in Estonia.

These include Inchcape, which has car dealerships in Derby, PricewaterhouseCoopers, which has its East Midlands headquarters at Castle Donington, and Toyota, based at Burnaston.

According to Indrek Pallo, UK Trade and Investment's regional trade manager for the Baltics, Toyota cars made at Burnaston account for 20% of Estonia's imports.

Toyota confirmed to me that it has been the top exporter of cars to Estonia since 2004. Last year, 800 cars produced at Burnaston were exported to the country.

Estonia is also not as remote as the average business traveller would think, particularly since Lufthansa began flights from Birmingham to Tallinn, via Munich.

Phil Harrold, partner and head of inbound services at PricewaterhouseCoopers in the Midlands, said: "Estonia has attracted one of the highest levels of foreign direct investment per capita in comparison with other developing economies.

"This is largely due to the success of its socio-economic reforms, which have created an environment that is good for business and attractive to overseas investors.

"For local businesses that may be considering a relocation strategy or other overseas investment, Estonia remains a strong proposition."

E-commerce is particularly strong in Estonia. Noting my ignorance of famous Estonian exports, English businessman Robin Gurney, who set up Estonia's first internet marketing agency, pointed out to me that the country came up with skype.

He also said that, in many ways, Estonians were like Derbeians.

In business, they prefer to be straight to the point. There is no protracted negotiation.

Another thing we have in common is that the Estonians like to drink.

After sealing the deal, do not be surprised if your new Estonian business partner drags you down to the Old Town for a pint of the local lager, Saku, or maybe A.Le Coq (no giggling at the back, please!).

The Estonian language is extremely complicated but it always helps to learn the odd phrase to ingratiate yourself.

A popular Estonian toast is "to your health" and the phrase for this is "terviseks". I said no giggling!

To find out more about business opportunities in Estonia, go to www.UKinEstonia.fco.gov.uk