International Trade Secretary Liam Fox has announced that small businesses can now access government-backed export finance directly from their banks, boosting UK trade.
UK Export Finance has published its 2016/17 results, showing a 60% increase in finance provided for exports, and its Business Plan for 2017-20, setting out plans for an increase in support.
Geoffrey de Mowbray, Chairman of the British Exporters’ Association, welcomed the new Business Plan for 2017-20, saying: “The British Exporters Association (BExA) has worked with UKEF in recent years to improve its product range, as evidenced by their impressive 9 out of 10 score from our annual benchmarking report. UK Export Finance is now, rightly, considered one of the world’s leading export credit agencies and its support has helped hundreds of companies succeed abroad. We at BExA welcome this ambitious plan and look forward to continued partnership as UKEF works to realise it for the benefit of the UK’s exporting community, particularly SMEs.”
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