Posted: Tue 21st Aug 2018
Enterprise Nation first called for export vouchers almost two years ago and in today's new export strategy, the government has announced it is assessing "financial incentives" to boost the numbers of small firms trading overseas.
In a plan to make "Britain a 21st century exporting superpower", international trade secretary Liam Fox will today set out plans to make better use of the government's overseas network, introduce new online tools and build a stronger business to business network aimed at increasing exports to 35% of GDP, up from the current 30%.
Last year £620bn of goods and services were exported by British companies, but the Department for International Trade (DIT) estimates that 400,000 businesses believe they could export but don't.
In measures targeted at smaller businesses, the government says it "will assess financial incentives and signposting as a means to support SMEs access new markets and private sector export support".
This is a move welcomed by Enterprise Nation following our call on the chancellor with fellow members of the Small Business Taskforce in 2016 for vouchers which provide match funding to help entrepreneurs access advice and support on selling their goods overseas.
As we said at the time: "Experimenting with initiatives like these would be transformative to small British firms and have a big impact."
Also in the new strategy are plans to develop the great.gov.uk website into a single digital platform for domestic business growth and export support, encouraging more exporters through inspiration and peer-to-peer learning and developing an awareness campaign of the £50bn worth of export finance and insurance support that's available.
In a speech in London, Liam Fox MP is expected to say: "The United Kingdom is a great exporting nation and our exporters lead the way, in creating jobs, raising wages and growing our economy.
"UK businesses are superbly placed to capitalise on the rapid changes in the global economic environment and I believe the UK has the potential to be a 21st century exporting superpower.
"As an international economic department, we are determined to support, connect and grow UK companies on the world stage through our international network.
"As we leave the EU, we must set our sights high and that is just what this export strategy will help us achieve."
Enterprise Nation's Show me the money! campaign offers content and events to help you better understand the finance options open to your business and to meet organisations with the funds.
A free event take place in Edinburgh on 21 November.
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