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THE BUSINESS OF INTERNATIONAL TRADE

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Export Growth Plans Announced for England

The government confirms £38m internationalisation fund to help small businesses go global

Published on October 26, 2020

Business World

The government has launched a new Export Growth Plan which is intended to help small businesses in England to develop their company's international sales.

The Plan features a new £38 million Internationalisation Fund for small and medium sized enterprises (SMEs), introduces 64 new international trade advisors to support growth in the North, South West and the Midlands, plus heralds the creation of a new Export Academy.

The package of measures announced by the Department for International Trade plans to support up to 7,600 SMEs in England, and is designed specifically to help them develop their overseas trade.

The Minister for Exports, Graham Stuart, explained that "The Government is negotiating trade deals around the world and we are determined to help UK businesses take advantage of the markets we are opening. So, as part of the recovery from coronavirus, I am delighted to announce this funding and support, which will be invaluable to businesses looking to begin or continue their exporting journeys." Mr Stuart added that "In 2019 we overtook France to become the world’s fifth largest exporter and this package is a statement of our confidence in UK companies to grow the UK as an exporting superpower. The package will ensure businesses are supported from the start, with more funding, more Trade Advisors and the establishment of the Export Academy to help businesses build back better."

Discussing the positives for SMEs, Mike Cherry, National Chair of the FSB (Federation of Small Businesses), said that "We welcome these new funds and resources which come at a critical time for small firms who are looking to either expand or begin their trading journeys. It’s vital that these new International Trade Advisors are tasked with focusing small and micro businesses, not just medium-sized ones. The smallest businesses often simply don’t have the same logistical financial means, and can be overlooked in favour of firms with louder voices and more resources. FSB will work with the Government to help make this happen. By supporting small firms to trade, it means that many businesses will be able to look ahead with confidence to the new trading landscape that awaits us in the coming months."

For more information on this Export Growth Plan, go to www.gov.uk/government/news/hmg-launches-export-growth-plan-to-help-businesses

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