EmerioBanque

UK Export Finance Grants £6 Billion Support to SME Exporters

As per the latest news, UK Export Finance ie. The UK's export credit agency has recently granted funding of £6 billion to the UK SME exporter throughout the year, as a contributory step towards their agenda of dominating Britain's free trade.

In UK Export Finance’s Annual Report and Accounts 2021-22, it was uncovered that funding of £7.4 billion has been provided to the UK’s businesses to accelerate exports, out of which 81% is reserved for SMEs, totaling £6 billion.

As of now, UK Export Finance further developed their small business contribution by incorporating the General Export Facility focusing on a wider range of SMEs, during which, they granted £180 million of funding, out of which 92% was reserved for SMEs.

Recommended Read: UK Strikes First Major Post-Brexit Free Trade Deal With Japan

For the year ahead, UK Export Finance is now looking to keep broadening the availability of the General Export Facility with new delivery associates, as well as availing the Export Finance Manager network to cover the maximum number of SMEs whose turnover falls under £10 million annually. No doubt that trade finance is important for SMEs.

Anne-Marie Trevelyan, Secretary of State for International Trade, and Mike Freer, Parliamentary Under-Secretary of State, explained in a joint statement:

“Small and Medium-sized Enterprises (SMEs) are enjoying the benefits from the new General Export Facility with approximately £250 million of working capital loans.”

“The new expanded Export Development Guarantee is also facilitating financing security to many of the UK’s biggest exporters, with billions of pounds now granted, and to the thousands of organizations engaged in the supply chain.”

Serial entrepreneur and founder of business launchpad platform Start My Business, Shoaib Aslam remarked:

“In the present economic disruptions, various start-ups and SMEs are in desperate need of financial aid. So it will be interesting to witness the contribution provided by the UK Export Finance over the last year. Financial Support, especially, can help restructure successful small businesses and provide a required boost.”

“Although, startups and SMEs should also strive for the support apart from the government as well, depending on both the services and guidance of other small ventures to ensure the small business economy prospers collectively.”

Dominic Duru, co-founder, DKK Partners explained:

“SMEs are the accelerator for the British economy and it’s appreciative to witness billions of pounds of financial aid to empower businesses to extend overseas and boost global trade. The Covid-19 pandemic had a noticeable influence on supply chains, and resourcing and prevented numerous organizations from accomplishing their objectives.”

“Moving forward, it’s time to avail this potential, by giving progressive businesses the access and financial aid they require to boost trade overseas, especially in emerging markets, which in turn will surprisingly improve the economic condition of UK PLC.”





Other news

Exchange Rates

Currency Buy Sell
EUR USD 1.06 1.10
EUR GBP 0.86 0.89
EUR CHF 1.02 1.06
EUR AUD 1.72 1.70
EUR JPY 116.08 116.56
EUR MYR 4.50 4.77
EUR SGD 1.53 1.57
EUR HKD 8.27 8.53
EUR CAD 1.54 53.84
EUR DKK 9.75 1.55

Most Recent Blogs View All Blogs

19 Sep

Free Trade Agreements: A Path to Prosperity and Cooperation

Free Trade Agreements usually are the formal pacts which are between the two or other countries to e...

14 Sep

India's G20 Legacy: A Comprehensive Assessment of Achievements

India's G20 presidency, an important international forum, has gained praise for its capacity to brin...

08 Sep

Kickstarting The Global Economy – How Financing Can Help

If we talk about the global economy then it has experienced its share of fluctuations, but the recen...

Disclaimer

Emerio Banque is an innovative global financial institution incorporated in England and Wales with Legal Entity Identifier 875500DGPPWAFABBK130. Emerio Banque does not offer its products and services to businesses and/or persons registered in the United Kingdom.

No information on this website should be construed as a solicitation, offer, recommendation, and representation of suitability or endorsement of any security, investment or strategy.

Important Notice

Emerio Banque would like to advise its customers to report any suspicions which they may have regarding the identity of any intermediary who promotes products or services offered by us or any intermediary bearing similar names. You should verify with Emerio Banque by calling our Customer Service Number on +44 203 059 7831 or emailing help@emeriobanque.com

Please also be aware of bogus SMS messages and voice message calls or fraudsters who impersonate the staff of Emerio Banque.

We have recently become aware of a number of entities with different names misrepresenting themselves as associates, partners or agents of Emerio Banque.

Please be informed that Emerio Banque is not associated with nor do we have any business connections or dealings with such institutions.

Emerio Banque takes all information regarding suspicious fraudulent activity very seriously. Please immediately inform us at compliance@emeriobanque.com if you suspect or are approached by persons misrepresenting or impersonating Emerio Banque and/or its officials. We will make investigations and will take legal action where necessary.