UK Export Finance welcomes industry to its largest ever national
conference, promoting SME growth.
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Minister for Exports calls on SME audience to make use of
government support at UK Export Finance's annual conference.
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Around 1,000 business leaders – including directors from CBI
and British Chambers of Commerce – gather to help UK
businesses access international opportunities.
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With a £60 billion remit, UKEF enabled exports to 45 global
territories in 2024, unlocking export opportunities for
British suppliers.
The UK government is hosting one of its largest ever export
conferences, with around 1,000 business leaders attending today's
UK Trade and Export Finance Forum to discuss ways of reducing
financial barriers to exporting.
Hosted in London by UK Export Finance (UKEF), the event welcomes
speakers from the CBI, British Chambers of Commerce and Invest in
Women Taskforce. Workshops will discuss overseas opportunities
and how government and private sector can collaborate to help a
wider range of businesses to export.
UKEF is a government department which helps businesses to export
by offering financing guarantees and insurance – support which
helps companies to fill their order-books, invest in growth and
create wealth. The event comes a week after the Chancellor
pledged to kick-start
economic growth across the country as part of this
government's Plan for Change.
In the 2023-24 financial year, UKEF backing for businesses
contributed £3.3 billion to the UK economy and supported up to
41,000 jobs across the country.
UKEF can also now reveal that in 2024, its work secured export
deals to 45 territories, increasing the availability of overseas
contract opportunities for British businesses.
A majority of businesses seeking UKEF support and attending the
conference are small and medium-sized enterprises (SMEs). Export
finance support complements other actions which the government is
taking to support SMEs, like measures tackling the scourge of
late payments, the launch of a Business Growth Service, and trade
agreements generating new opportunities.
, Minister for Exports,
said:
UKEF plays a key part in this government's central mission to go
further and faster to deliver economic growth across the country.
Their support has led to projects in dozens of countries around
the world, supporting jobs, boosting wages and increased
investment into the UK.
Supporting small firms and supercharging exports are at the very
core of that growth mission, because we know that when more SMEs
trade around the world, it boosts the whole economy.
The conference falls ahead of the government's Industrial
Strategy, a plan for supporting investment into high-growth
sectors which is expected to launch in spring 2025. This will be
supported by UKEF's own
vision for supporting more SMEs and facilitating £10 billion
in financing for clean-growth exports by 2029 – a vision
furthered by the Chancellor's recent launch of export finance
support for projects
supplying critical minerals to UK industry.
Shevaun Haviland, Director General of the British
Chambers of Commerce, said:
If the UK wants to grow its economy, then we need to export more.
The maths on this is really very simple. If we export more than
we import, then trade contributes to economic growth,
productivity rises, and wages and investment are pushed up -
creating a virtuous circle.
Our experience has also taught us that firms that export are more
resilient, innovative and grow faster. Support for our SME
exporters and encouragement to help them start selling overseas
is vital to making this happen and UKEF has a key role to play.
Jordan Cummins, Director (UK Competitiveness), CBI,
said:
To be a key player in the global race for growth, the UK needs a
bold and ambitious Trade Strategy.
As business continues to navigate changing global dynamics,
persistent economic headwinds, and geopolitical uncertainty,
intervention is needed from government to enable firms to capture
the growth prizes on offer. Doing so will ensure the UK is
positioned as one of the world's best locations for investment
and trade.
Record interest in the government event follows growth in the
range of businesses seeking UKEF support. Since launching the
event in 2018, UKEF has seen a significant rise in the number of
retail and wholesale exporters supported, particularly in food
& drink, beauty & healthcare, furniture, homeware and
interior design.