Firms’ chance to show abroad outlook as UKTI pushes exports

According to UK Trade & Investment (UKTI), the region is home to 7,500 exporters in a total business population of 345,000.

The Yorkshire Post’s revelation underlines the difficulties in rebalancing the UK economy.

The Government has been desperate to promote exports and reduce the nation’s dependence on consumer spending, the housing market and the City of London.

But in spite of a weaker sterling, the nation’s manufacturing and service sectors have struggled to compete internationally.

The goods trade deficit widened in September to its biggest shortfall in a year, figures showed last week, meaning that trade will act as a drag on overall growth in the third quarter.

In contrast, Germany’s trade surplus rose to a record high in September as exports climbed across the board.

Business Secretary Vince Cable today launched the “biggest ever” push to get UK companies exporting.

Export Week will host almost 100 events for small businesses nationwide, including activity across Yorkshire.

Mr Cable hopes the push will lead to 3,000 appointments with UKTI advisers to generate new export revenues.

The Government claims that businesses add an extra £100,000 in sales within 18 months of working with UKTI.

Mr Cable said: “British small and medium-sized businesses are the lifeblood of our economy.

“Many are doing incredible things and selling their services and products abroad. But too many do not realise their global potential.

“This campaign will help us reach the many businesses across the country that are ready to export and grow but have yet to take the plunge.

“This can be a big step for many businesses and the Government’s expert international trade advisers will guide companies every step of the way, with practical advice and support to find international customers.”

UKTI told the Yorkshire Post that it has 32 trade advisers in Yorkshire, compared with 37 in London and 43 in the South East.

Mr Cable is visiting Russia this week with a delegation of 31 UK businesses, covering the retail, construction and manufacturing sectors, including Sheffield Forgemasters.

The Business Secretary said: “British exports to Russia have almost tripled in the last ten years, with around 600 UK companies currently operating in the country. The opportunities here are huge for British business.”

Between 2009 and 2012, the value of exports of goods and services to Russia has grown by more than 75 per cent to £7.6bn.

The Government announced a deal with Moscow-based Alfa Bank to set up a $50m (£31m)credit line for SMEs to export to Russia, promising medium-term loans on “favourable” terms to buyers of UK export contracts.

Ministers also announced that UKTI is setting up an 18-month operation in Russia, which will run across 10 cities from this month to build an investor base.

Trade and Investment Minister Lord Green said: “The Made in Britain brand is sought after across the world and many UK businesses are already taking advantage of this but we want more to follow.

“Through Export Week we will hopefully encourage many more companies across Yorkshire and the Humber to explore international opportunities.

“The UK’s future prosperity will not come from relying on domestic markets alone.

“Businesses excel with UKTI’s support and we want to make sure that UK firms are not just trading abroad but thriving there and competing with the best the rest of the world has to offer.”

UKTI regional director Mark Robson said: “Although more and more local SMEs are exporting, there is still a huge opportunity for growth, and we are committed to them every step of the way.

“Exporting helps companies grow – and it is more important than ever that we help firms to stay ahead of the competition, selling to new markets and generating new jobs.

“Exporters do better with UKTI’s help and we can offer support to any SME that wishes to export.

“There is still a perception in some quarters that exporting is only for the big boys, and that some companies are too small or niche to compete in the international marketplace.

“That couldn’t be further from the truth. We have a wealth of enterprising SMEs across the region achieving success in all corners of the globe, and the message is simple: They can do it, and so can you.”