Trade and investment minister Lord Green has visited the West to urge the region’s businessess to compete for a major award scheme to boost exports – benefiting both themselves and the economy.
The Exporting for Growth competition aims to encourage more small businesses to take their products to overseas markets by offering a comprehensive package of support to the company with the best export idea.
The winner will receive support from the Government’s UK Trade & Investment (UKTI) body worth £5,000 and three grants for overseas travel to their target markets, as well as expert business knowledge and insight from sponsors HSBC and PwC.
Speaking to an invited business audience at the National Composites Centre on the Bristol & Bath Science Park, Lord Green said: “Government alone cannot turn round the export performance of this country.
“We need to work with those that have most to do with small companies, can help them to understand the benefits of exporting, and can then help make it a reality.
“Our future prosperity will not come from relying on domestic markets alone. Across the world there are markets that are showing strong, long-term growth. We want to make sure that UK firms are not just trading abroad but thriving there. UKTI has a crucial role to play and will seek to double its client base to around 50,000 over the next three years.”
Entries to Exporting for Growth must be submitted by January 31. Shortlisted companies will then be invited to present their ideas later this year to an audience of business leaders and a judging panel which will then select the winner.
UKTI regional director Russell Jones added: “Less than a quarter of the estimated 10,000 medium-sized firms in the UK export, and most of those that do are already receiving help from UKTI.
“There is demand all around the world for products from the West but too many of our smaller firms are missing out on these opportunities, and UKTI have the expert staff and the relevant support packages to help them take the first step. All they have to do is pick up the phone and ask to speak to an international trade adviser.
“And for small companies with a big export idea our Export for Growth competition could be the springboard to international growth that they need. We’re very keen to hear from them, particularly if they are new to exporting or relatively inexperienced. They just need to tell us – in 200 words – what their idea is, why it’s workable, and why now is the best time to take it to market.”
PwC regional chairman Rob Lewis said exports were critical to lifting the UK out of the economic slump and creating British jobs.
“By increasing the number of companies who export by roughly a quarter, about £36bn could be added to the UK economy,” he told the event.
“There has been a perception that exporting is only for large companies. But there are plenty of examples of small companies in the region who have taken the leap, overcome the challenges and are now reaping the rewards of exporting. Hopefully, with initiatives likes this one and the help and advice from professional advisors we will see many more West companies making their dreams of exporting a reality.”
HSBC regional commercial director Gary Burton added: “Recent HSBC research suggests that UK trade volumes will increase by 60% by 2025, and SMEs will have a critical role in supporting and driving that growth. We appreciate that entering a foreign market for the first time can be a daunting step into the unknown, and this means gaining insights into the way business is done in particular markets and securing introductions can be just as important as the international products we can provide.”
More than 300 delegates attended the event with representatives from trade associations, banks, accountancy and legal firms, the West of England Local Enterprise Partnership (LEP), chambers of commerce, regional and private sector networks and professional advisors and intermediaries as well as local businesses.
Also speaking at the event were Lara Morgan, UKTI Catalyst member, founder and director of Pacific Direct, LEP chair Colin Skellett, Steve Roberts-Mee, head of communications at UK Export and Dr David Anderson, senior vice president of Somerset-based specialist laser firm Gooch & Housego.
Attendees could also take part in panel discussions with successful West exporters including Dr Anderson and Reg Hankey, chief executive of leather manufacturer Pittards. Seminar sessions were also staged on a range of export topics such as export planning, finding new markets, financing exports and experience of small businesses.
The event was facilitated by the BBC’s West business correspondent Dave Harvey.
To find out more about the Export for Growth Prize and download an entry form, visit www.ukti.gov.uk/exportingforgrowthprize
