Improved UK Government Support for UK SMEs Selling Services Overseas
In July 2017, the Secretary of State for International Trade, Dr Liam Fox MP, signed a MoU committing to closer partnerships with the five major high street banks, making it easier for UK SMEs to access the financial support available from UK Export Finance (UKEF).
This new partnership with Barclays, HSBC, Lloyds, RBS/NatWest and Santander is now in full effect.
The Secretary of State DIT has announced the two key ways that we are improving support for UK SMEs:
• Firstly, SMEs can now access UKEF support directly from their bank, removing the burden of duplicate applications
• And, for the first time, UKEF is extending its support to UK companies further down the supply chain – to direct suppliers to UK exporters. This will be available from all UKEF banking partners, not just the big five.
This means accessing government-backed financing for SMEs selling, or contributing to the sale of, goods and services overseas will be easier, quicker and more scalable than ever before.
To find out more about how UKEF is helping SMEs access finance to export more, click here.