Member Article

Trade Minister visits North East

The Minister for Trade and Investment has visited the North East today, in a bid to encourage the region’s business advisers to help smaller companies to take up the export challenge.

In a speech in Gateshead, Lord Stephen Green highlighted the important role business advisors can play in encouraging more small and medium businesses to export to overseas markets.

The North East is the only English region that is a net exporter of goods and services, with an impressive £13.5 billion of exports.While this is a strong figure, the UK still remains behind the European average when it comes to exporting.

Lord Green commented: “UKTI is determined to increase the number of exporters and there is a new expanded role for UK Export Finance to work with businesses of all sizes to take advantage of overseas opportunities.

“Firms that export become more competitive, more innovative and more productive. They are the kind of firms that can help the UK become more competitive internationally.”

The event, which was part of the UK Trade & Investment Exporting for Growth initiative, aims to increase the number of SME exporters from 20% to 25%, in like with European competitors.

It also comes a week after the Chancellor announced the ambition of increasing the value of UK exports to £1 trillion by 2020, alongside the introduction of new measures to help exporters secure new opportunities. He also reaffirmed UKTI’s role in helping to drive this expansion.

He added: “Government alone cannot turn round the export performance of this country. We need to work with those that have most to do with small companies, can help them to understand the benefits of exporting, and can then help make it a reality.”

David Coppock, Regional Director of UKTI North East echoed these sentiments and was keen to stress the support networks which are available to businesses looking to take their products and services overseas.

“Less than a quarter of the estimated 10,000 medium-sized firms in the UK export, and many of those that do are doing business in markets with low growth,” he said. “As part of the North East’s export challenge I want to see more medium-sized firms diversifying into new and high growth markets, which will them to grow their business rapidly.

“We will work closely with the region’s MPs, LEPs and local authorities to deliver more signposting for business support and to develop the export proposition of Enterprise Zones.”

Event sponsors HSBC and PwC have also offered their support to the region’s export industry. HSBC recently launched a £4 billion HSBC International SME Fund to help SMEs who trade, or plan to trade internationally, and has a clear strategy to help rebuild the UK economy.

David Beaty. HSBC’s Regional Commercial Director for the North of England said: “It is essential that all business advisers are geared up to help with this export drive.

“At HSBC we forecast that UK international trade will grow by 60% over the next 15 years, so it is encouraging to see such strong businesses in the North East positioning themselves to grow by taking advantage of international and export opportunities. “

Richard Podd, director at PwC in the North East added: “If you have a well-run business with a good product to offer, the chances are that there are many opportunities out there.

“If the rewards you expect justify the investment and the risks, you should commit to your export plan and make it happen.

“All businesses have to start somewhere and we can all contribute to the growth of the North East economy and the UK economy as a whole.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .