Record levels of UK businesses are interested in exporting
A record number of UK businesses have registered interest in exporting via government-brokered opportunities, it has been revealed.
According to UK Trade & Investment (UKTI), the exportingisgreat.gov.uk website has attracted more than 20,000 responses since November. In the same timeframe, the site showcased more than 6,000 exporting opportunities, equating to 40 new opportunities every day or one new chance for a UK business to export roughly every 37 minutes.
The statistics were released by UKTI to coincide with the Government department’s ‘Exporting is GREAT’ week, which runs from April 18 to April 22 and aims to promote exporting, especially to smaller businesses and first-time exporters.
More than 500 events tied in with the campaign are due to take place up and down the country and the Government says it aims to encourage and support another 100,000 businesses to begin exporting by 2020.
Since November last year, the Exporting is GREAT roadshow has been touring the UK and has provided advice and support for more than 3,000 businesses looking to trade overseas.
Exporting can be a good way for many businesses to increase profits, achieve growth and avoid stagnation in their domestic market. The growth of the internet has simplified many parts of the process and exporting is no longer the preserve of the large corporation or specialist entrepreneur.
There are other firms capable of providing an alternative finance option for those businesses looking to start exporting too. This is especially useful if firms are struggling to raise the required finance to drive growth or to take advantage of opportunities.
Despite its potential benefits, exporting can still carry risks and it’s important to seek proper advice and be as prepared as possible.
UKEF has provided more than £17 billion of support to UK businesses over the past five years. This has involved helping more than 300 businesses directly and many more indirectly through their supply chains.
By Phil Smith
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