Barclays pledges to help 15,000 UK businesses export by 2020
Partnership with UK Trade & Investment will focus on first-time exporters and increasing exports among companies of all sizes
Barclays has partnered with the government-backed UK Trade & Investment (UKTI) and promised to help 15,000 UK businesses export for the first time by 2020.
The two organisations have agreed to prioritise seven key areas of focus to get small firms trading overseas and has set a number of targets to accelerate the development of UK international trade and attract inward investment.
As well as helping first time exporters, the collaboration will focus on improving digital capability, increasing exports by medium-sized and high growth businesses through trade missions and summits, and increasing trade with Africa – where consumer spending is expected to grow by 4-5% during the next five to 10 years.
The two groups will also look to secure high value opportunities for UK exporters, increase the awareness of the UK as an investment destination to priority markets and drive exports through marketing, initiatives and events.
By 2020, it is hoped that these commitments will enable UK exports to reach one trillion pounds and get 100,000 more companies exporting.
John Winter, CEO of Barclays corporate banking, commented: “Supporting UK enterprise and helping businesses of all sizes to expand and grow is something we are passionate about.”
Dr Catherine Raines, chief executive of UKTI, added: “I am delighted we will be working together with Barclays, which will lead to 15,000 more companies working abroad in 2020. Pooling our professional advice for companies is a powerful offer and will increase the amount of support for exporters available.”