UK Export Finance – the UK government’s export credit agency – provides flexible finance solutions to UK exporters, thereby ensuring that no viable UK export fails for lack of financial support. This should prove to be extremely beneficial for firms who would like to export but aren’t competing due to financial constraints – something which an Insider survey of SMEs in the South West found to be a major stumbling block, causing 48% of firms surveyed to report that they have turned down export opportunities due to payment risk! For more on this subject please read the bulletin below which was issued by Insider Media Ltd. today.
Roger Mundy, Managing Director, Beardsley Theobalds, 19th October 2017
Export matters : Growth through exporting – a world of opportunity
Hugh Francis of UK Export Finance reflects on the results of the recent Insider export survey in the South West.
Selling overseas enables UK firms to access new customers and untapped markets. It brings huge benefits to businesses, with bank research showing that companies that start exporting grow by on average a third in two years.
However, a recent Insider survey conducted in partnership with UK Export Finance has revealed small and medium-sized businesses in the South West aren’t competing internationally as they should be due to finance constraints. In fact, many are unaware of what export finance and insurance is available and how it can help them.
48 per cent of South West SMEs surveyed have turned down international business due to payment risks.
37 per cent are unable to offer their overseas clients flexible payment terms, payment in their chosen currency or advanced payment protection.
And only 10 per cent of South West SMEs feel confident accessing finance for a larger-than-normal order.
Sound familiar? We can change that.
UK Export Finance is the UK government’s export credit agency. Through flexible finance solutions to UK exporters, we ensure no viable UK export fails for lack of the right financial support.
In the last year alone, UK Export Finance provided over £3.2m in support for South West businesses like yours, resulting in £41m in overseas sales.
We can help you too.