Bristol could be one of a number of UK cities to benefit from a new £5m export support programme.
The Institute of Export and International Trade has launched the programme to help UK businesses accelerate their journey into international trade. This it says is due to a need for greater export support for MSMEs (micro, small and medium sized enterpise).
While overall exports in goods have risen by 18% in the South West over the last year, according to the latest ONS data, not enough smaller firms are exporting. Data shows that while MSMEs make up 99.9% of the 5.5m businesses registered in the UK, yet fewer than 10% of them export.
Marco Forgione, director general of The Institute of Export and International Trade said: “As a leading organisation in international trade, founded on the principle of equipping people and companies to trade internationally, we have designed the Export Support Package to enable UK MSMEs to fulfil their business potential through exporting.
Read more: Devon transport firm sees profits rise despite ‘challenging year’
“The theme of this year’s MSME day is building a stronger future together and our team is committed to helping businesses realise their international trade ambitions.”
He continued: “The UK has signed numerous trade agreements which will benefit MSMEs across the country. However, it’s essential we equip business with the knowledge, skills and expertise to take full advantage of these opportunities. Through this bespoke package of consultancy, training and implementation we will provide businesses with the knowledge and expertise to trade confidently and compliantly with the world.”
Mr Forgione explained how The Institute of Export and International Trade's experts designed the export package "with businesses in mind". He said that they hope to encourage more South West companies to take advantage of the trade deals in the UK.
He said: "We want to encourage more companies in the South West to take advantage of the trade deals that the UK has signed because we know that businesses that export are more profitable, employ more people and are more resilient.”
Like this story? Why not sign up to get the latest South West business news straight to your inbox.
