Small firms urged to make use of revamped export support
12 January 2022
With only one in ten small businesses currently exporting, the government has called on more SMEs to join the businesses already benefitting from the new and improved support available to them.
With only one in ten small businesses currently exporting, the government has called on more SMEs to join the businesses already benefitting from the new and improved support available to them.
The government has expanded a number of services to help companies navigate new customs arrangements with the EU and free trade opportunities opening up elsewhere in the global economy.
Among them is the UK Export Academy, which offers free, comprehensive training for SMEs to learn how to sell to customers and secure contracts around the world with confidence.
More than 1,000 businesses have already signed up to the Academy, and Trade Secretary Anne-Marie Trevelyan has urged others to join them as part of the government’s vision to double UK exports to more than £1 trillion by 2030:
“Just one in ten small businesses currently export, so we’re boosting our support to give them direct, tailored advice to help them on their exporting journey. Many of these businesses are in prime position to take advantage of the trade deals we are negotiating, and can play a vital role in helping the UK reach our Race to a Trillion.”
According to the latest figures, small businesses exported over £99 billion worth of goods and services in 2019, up by more than £700 million the previous year. However, the vast majority of SMEs are yet to explore their options for overseas trade, despite research showing that exporters have been faring much better than non-exporters during the pandemic.
Other services available to SMEs include the Department for International Trade’s Export Support Service and Internationalisation Fund, as well as newly updated support from UK Export Finance (UKEF), the UK’s export credit agency.