The opportunities for international trade are growing and UK companies are increasingly taking advantage
By Robert Clare, NatWest Regional Director for Sussex and Surrey and South West London
In the first edition of the NatWest Funding Guide I talked in general terms about the broad range of funding options available to SMEs. As the economic recovery strengthens there is a growing recognition of the importance of International trade, especially exports, as we seek to rebalance the economy and build sustainable growth.
The British Chambers of Commerce Annual Conference held on 1st April made much of this, so it seems right to focus on the financing of International Trade in more depth. NatWest research shows that two-third of UK businesses feel now is good time to further develop their overseas trading activity.
With the domestic market flat for many businesses, international trade has perhaps never been as important to the growth of UK companies and the country as a whole.Although the two largest markets for UK exporters remain the Eurozone and the US, constrained growth in both of these regions has encouraged UK businesses to explore new territories, with the focus increasingly on faster-growing Asia, the Middle East, Eastern Europe and Africa.
Choosing a bank with global reach provides key advantages. Their local presence can provide on-the-ground experts with a detailed understanding of both the local market and your individual needs, which can help you develop connections and overcome barriers in new markets.