MercoPress. South Atlantic News Agency

UK businesses export support plan represented £49.1 billion to the economy

Trade Minister Lord Livingston said that over the last 4 years, UKTI has more than doubled the number of companies it has helped.

The number of United Kingdom businesses receiving export support has increased by 50% in the last financial year, Trade Minister Lord Livingston announced on Monday. This translates into a total of 47,960 businesses in 2013 to 2014 which exported for the first time or found new markets through its extensive network of specialists in the UK and in British embassies around the world.

The figures have been published as part of UK Trade & Investment (UKTI) annual Performance and Impact Monitoring Service (PIMS) and show that the support was worth £49.1 billion to the UK economy in additional overseas sales as a direct result of the advice, which is expected to create or safeguard 220,000 jobs.

Companies receiving support related to the United States saw this biggest increase, 51% (4131 businesses), followed by China, 47% (2961 businesses), and Brazil, 38% (1415 businesses). Other countries included the UAE 28% (1824 businesses), Germany 24% (3413 businesses), France 19% (2199 businesses) and India 15% (2453 businesses).

Trade Minister Lord Livingston said that over the last 4 years, UKTI has more than doubled the number of companies it has helped.

“It has found them distributors in new markets, helped them sell online around the world, supported their first trade show, and provided them with advice on over 100 markets around the world and much more.

”As part of our long term economic plan, we want to increase the number of small and medium size companies that sell internationally as this creates growth and new jobs in all UK regions and all industries.

“I encourage companies considering expanding overseas not to delay and get in touch with UKTI today”.

It has also been announced that UK food and drink exports now reach a record 150 countries, a year on from the launch of the UKTI and Defra action plan for the sector. The UK government has helped 2,500 food and drink businesses sell their produce abroad in the last 12 months – more firms than ever before - generating £300 million for the UK economy as part of the long-term economic plan.

UKTI will be holding its 6th Export Week during the week of 10 to14 November with a series of events all over the UK aimed at helping small and medium sized companies.

Over 120 UKTI Trade Officers worldwide will be available for 1-2-1 meetings on their dedicated markets to help businesses explore the possibilities of exporting to new countries.