Businesses welcome plan to encourage growth through overseas trade

The new Export Growth Plan includes 22 new International Trade Advisors (ITAs), who will provide direct support to small businesses in the Midlands Engine, supplementing the existing support provided to businesses across the UK.

A pilot Export Academy scheme has also been introduced to support smaller businesses in the Midlands to begin their exporting journey. The academy will deliver a series of activities that will build the capabilities of smaller businesses, creating a new group of confident businesses ready to trade.

In addition, a £6.3 million Midlands Internationalisation Fund for small businesses will help up to 1,250 businesses in the Midlands Engine grow their overseas trading and maximise their profits from 2020-2023.

Shaun Carvill, managing director of Bridgnorth-based web agency Clickingmad, said: “More and more businesses are looking to gain a presence internationally to help boost growth and these new measures will provide financial support and the expert knowledge needed to help companies succeed.

“There are so many opportunities for businesses across Shropshire and beyond to take advantage of new foreign markets. We are yet to see the fine details of the plan but we are hopeful there will be some funding available to help businesses invest in web translation services to make it easier for companies to start communicating with new customers.

“Such measures would ensure that businesses are being supported right from the very start of their export journey.”

Anton Gunter, managing director of Telford-based Global Freight, said: “This is absolutely fantastic news for businesses looking to begin their export journey and grow their business through international trade.

“The package of measures announced will provide not just funding but also expert knowledge and advice to businesses through the support of International Trade Advisers which is invaluable.

“The measures come at a crucial time for businesses in Shropshire with many looking to new foreign markets to help spread the risk against the UK’s economic uncertainty.”

Minister for exports, Graham Stuart MP, said: “The Government is negotiating trade deals around the world and we are determined to help UK businesses take advantage of the markets we are opening. So, as part of the recovery from coronavirus, I am delighted to announce this funding and support, which will be invaluable to businesses looking to begin or continue their exporting journeys.

“In 2019 we overtook France to become the world’s fifth largest exporter and this package is a statement of our confidence in UK companies to grow the UK as an exporting superpower. The package will ensure businesses are supported from the start, with more funding, more Trade Advisors and the establishment of the Export Academy to help businesses build back better.

“As we continue to negotiate improved trading terms with leading countries around the world, it is important to ensure every business can reap the benefits of our free trade agreements.”

Federation of Small Businesses national chair Mike Cherry added: “We welcome these new funds and resources which come at a critical time for small firms who are looking to either expand or begin their trading journeys.

“It’s vital that these new International Trade Advisors are tasked with focusing small and micro businesses, not just medium-sized ones. The smallest businesses often simply don’t have the same logistical financial means and can be overlooked in favour of firms with louder voices and more resources. FSB will work with the Government to help make this happen.

“By supporting small firms to trade, it means that many businesses will be able to look ahead with confidence to the new trading landscape that awaits us in the coming months.”