UK Launches New Strategy to Boost Exports
The United Kingdom announced a new 12-point export strategy, "Made in the UK, Sold to the World," to boost U.K. exports to 1 trillion pounds ($1.3 trillion), the Department for International Trade said. The plan, published Nov. 17, includes an…
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Export Support Service to offer advice and a U.K. trade show designed for businesses to promote their products globally, DIT said. DIT's Export Academy will expand from England to Scotland, Wales and Northern Ireland. The academy provides masterclasses, roundtables and networking events for owners and managers of small and medium-sized enterprises (SMEs). The plan also expands the U.K. Export Finance, the nation's export credit agency. The UKEF's Export Development Guarantee permits UKEF to give 80% guarantees on loans of 25 million pounds and up to support companies' "general expenditure, including facilities, research and development and general operations." These resources will be expanded to companies that do not currently export.