Revealed: £600m trade and investment boost from Liverpool’s International Business Festival

Liverpool’s International Business Festival has managed to boost UK trade and investment by £600m, according to data.

Held in 2014 and 2016, the event has so far attracted 31k visitors from 98 countries to Merseyside, with large delegations from China, India and the US.

Sales valued at £250m were agreed during the 2016 festival, with around 500 UK businesses securing exports worth over £87m.

Around one-third of attendees last year said the festival actively encouraged them to export or explore new international markets.

Details of the event’s economic windfall were revealed today (July 7), with a year to go until Liverpool hosts the nine-day festival a third time.

Taking place in June, the 2018 International Business Festival will aim to cement the UK’s position as a global leader in free trade and investment – as well as Liverpool’s status as a global export gateway – while the UK ramps up Brexit with its European neighbours.

Organisers predict that the total value of deals conducted over the three festivals will hit £1bn.

Festival chair Max Steinberg said: “As the world’s biggest business festival we have an outstanding track record for helping business to upscale and realise their potential.

“The festival is designed to appeal to a broad audience from start-ups to SMEs and innovators to major corporations.”

He added: “We help businesses meet buyers and suppliers, developing partnerships and signing deals. This is the third festival and it promises to be better than ever.”

Amanda Murphy, head of commercial banking for HSBC, lead sponsor for the 2018 Festival, commented: “SMEs are the lifeblood of the UK economy and for many there is an appetite to grow their business through exporting.

“For those worrying about having a lack of exporting experience the International Business Festival brings SMEs together with experts to explore opportunities.”

She continue: “We’re looking forward to joining the UK’s most exciting young businesses eager to discover the international markets available to them.”

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