Launched in May, it sets out plans to provide practical support to exporters and inward investors over the next five years. The strategy lays out four pathways to balanced growth. These are:
1. Targeting services at innovative and high growth SMEs to encourage more companies to export, and help existing exporters reach more high growth and emerging markets.
2. Winning high value opportunities in overseas markets for UK businesses of all sizes.
3. Delivering high quality inward investment, with a drive to market large British infrastructure and regeneration projects to foreign investors.
4. Building strategic relationships at the highest levels with the most significant inward investors, including overseas institutions such as Sovereign Wealth Funds, and with the UK’s top exporters and major overseas buyers.
Trade Minister Lord Green has said that there are 900,000 businesses exporting in the UK and that he wanted that increased by a quarter.
“I would love to see a 25 per cent increase in the number of SMEs engaged in the international market place. That’s achievable, I believe,” he said.
And Miles Templeman, Director General of the Institute of Directors said: “With the right strategy, business of all sizes can benefit hugely from international expansion.”
John Walker, National Chairman, Federation of Small Businesses said of the strategy: "The Federation of Small Businesses welcomes the strategy from UKTI and seven point charter from the FCO as they address many of the issues that small businesses face when exporting and will go some way to encouraging new firms to enter the export arena... For many small firms, the challenges of finding customers and the red tape around doing business abroad is a major concern and today’s announcement will help small businesses lead an export led recovery."
For more information, please visit www.glazers.co.uk
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