Highest Number of British Businesses Looking to Export in 25 Years
Despite economic uncertainty surrounding Brexit, opportunities have opened up for exporters due to the devaluation of the pound
The number of British businesses looking to export is at its highest for 25 years, according to a report by UK Export Finance (UKEF).
The export credit agencies annual report revealed that the number of exporters supported in 2015 to 16 was the highest since the early 1990’s, and 23% up on the previous year.
77% of businesses that received support from UKEP were small and medium sized enterprises, with a further 7,000 businesses in the supply chain having benefited indirectly.
The report further suggests the theory that, despite the uncertain economic environment following the Brexit vote, opportunities have opened up for exporters due to the drop in value of the pound.
Lord Price, minister for trade and investment, said:
“Exporting can help businesses grow, and grow fast. That means more jobs, more profits, more tax revenue and more benefit to society.
“By providing its innovative support to more exporters than ever before, UKEF is helping to make exports happen, playing a vital role in the whole-of-government push for 100,000 new exporters by 2020.”
Are you an exporter? Read our guide here and take advantage of Brexit.