North East Hertfordshire MP Sir Oliver Heald has received information from UK Export Finance (UKEF) giving information about how they can help businesses in North East Hertfordshire win export orders, fulfil contracts and get paid. The UK is awash with untapped export potential. One in seven firms with a turnover over £500,000 is not exporting but could be, and companies that begin to export, on average, grow by a third in just two years.
UKEF has been backing UK exporters for over 100 years, guiding them through many great changes to the global economy, at no net cost to the taxpayer. Last year, UKEF provided £7.4 billion in support for UK exporters of all sizes, estimated to support over 72,000 jobs across the UK, with 81% of businesses backed being SMEs.
Since the start of the pandemic, UKEF has developed its products to meet the changing needs of UK businesses. UKEF has ended support for fossil fuel projects, backed billion-pound clean growth projects and innovated to make its support more flexible and accessible.
More information can be found on the UKEF website https://www.great.gov.uk/trade-finance/
Commenting, Sir Oliver said “I welcome this opportunity for local businesses to be able to look at growing their businesses by exporting their products with the backing of UK Export Finance.”