economy
‘Talk to us about your export ambitions’: discover how the UK government’s export credit agency helps small businesses unlock global opportunities
Expanding into new markets can feel challenging, but with the help of UK Export Finance it can be done. Here, two of UKEF’s finance professionals share their insight
TL;DR
- UKEF supports UK businesses in overseas trade by providing access to finance, insurance, cash flow management, and risk reduction.
- Export Finance Managers offer guidance and support, with a goal to assist over 1,000 SMEs annually by 2029.
- Support includes bank guarantees for working capital and insurance against non-payment, connecting businesses with a support ecosystem.
- UKEF's mission is to ensure no viable export fails for lack of finance or insurance, reaching businesses irrespective of their location or ownership.
- Special attention is given to underrepresented businesses, such as those led by women and ethnic minority groups, to overcome barriers like knowledge and network access.
- Regional focus allows managers like Alissia Deane to leverage local knowledge and build trusting partnerships.
- Initial meetings are discovery sessions to understand a business's model, challenges, and export strategy.
- Businesses should be open about their finances and export ambitions when meeting with an export finance manager.
- UKEF assesses deals based on viability, not size, encouraging even small businesses to inquire about support.
- A female founder export accelerator program has been launched in Birmingham and Leeds to support high-growth businesses.