The UK Government is calling on businesses to explore export opportunities, amid concerns that not enough small and medium-sized enterprises (SMEs) are trading on an international scale.
In recent days, the Department for International Trade (DIT) has unveiled a new official strategy to help SMEs identify and explore international trade opportunities.
News of the DIT’s Export Strategy review comes at a time when research suggests that approximately 300,000 UK businesses are producing ‘exportable goods’, but not trading such goods with other countries.
Minister for Trade and Exports, Baroness Rona Fairhead, has announced that the Government will begin to work more closely with businesses in the near future in order to rectify this issue.
Unveiling the Government’s new Export Strategy earlier this week, she said: “The Export Strategy review will draw on expertise from across Government and the private sector, helping us to understand how best to support British companies to take advantage of opportunities in overseas markets.
“Throughout the process, we will look for significant input from UK businesses, both large and small, to ensure we develop a strategy that meets their needs.”
Contrary to the concerns raised, up-to-date official figures suggest that UK exports have grown by 13.7 per cent in the last year, spurred on by recent falls in the value of sterling.