News

April 22, 2016

More UK businesses looking to export

A record number of UK businesses have shown an interest in exporting through the Exporting is GREAT website in the past six months, according to new Government figures.

The website has received more than 20,000 applications from UK businesses since November 2015.

At the same time, more than 6,000 export opportunities have been showcased on the Exporting is GREAT website in this time. This equates to 40 new opportunities every day, or a new chance to export roughly every 37 minutes for UK businesses.

According to UK Trade and Investment (UKTI), export opportunities in the past few months have come from 109 countries and 44 different sectors. The UKTI also organises Exporting is GREAT Week, which is being held this week.

Trade and investment minister Lord Price said: "Companies are increasingly realising the benefits of strengthening their overseas business, with new exporters making up nearly a fifth of UKTI customers (19%). The development of digital technology has the potential to give even the smallest company a global reach and access to attractive new markets."

The Government is committed to supporting 100,000 more UK businesses to export by 2020, said Price.

Since November 2015, as part of a year-long roadshow around the UK, the Exporting is GREAT Export Hub has provided some 3,000 companies with advice and support to grow their business overseas and brought them face-to-face with live global export opportunities.

In addition, UK Export Finance (UKEF) provides financial advice and support for would-be exporters. Over the past five years, UKEF has provided over £17 billion worth of support to British businesses.

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