Insurance · 23 June 2017

Wales export guide will directly target 26,000 business owners

Wales
4,000 Welsh companies exported for the first time last year

The government will get in touch directly with some 26,000 Welsh business owners to provide exporting support and advice in the forms of a Wales export guide, it has been announced.

The Welsh secretary, Alun Cairns, has said that the government has identified 26,000 Welsh businesses as potential exporters, the owners of which he will write to and send a copy of a Wales export guide.

In a statement, Cairns said: “I want Welsh businesses to get out into the wider world, to trade and do business all around the globe. That is why we are sharing the advice, guidance and support available from the government, in particular from the Department for International Trade, for businesses in our Wales export guide.

“We want to help them to build their brand abroad as we continue to increase UK exports and encourage inward investment.”

Contained in the Wales export guide will be details of the full range of government-backed support available to Welsh companies, as well as some successful past Welsh exporting case studies to encourage first-time exporters.

The government is hoping Wales can increase its rate of exporting. Last year, the country saw 4,000 companies export to an overseas market for the first time, contributing £12.4bn to the UK economy. Considering total exports contribute over £570bn to Britain’s GDP annually, Wales’ contribution remains relatively insignificant.

Cairns went on to say: “In Wales we design, develop, manufacture and integrate some of the world’s most advanced technologies essential to most other industry sectors.

“Our work underpins innovation and development across many different markets which is critical to our trade and investment success.”

Last year, the Welsh government made a promise to the country’s small business owners that business rates would remain unchanged until at least 2018 – a policy which stands apart from the approach of central government in Westminster towards the business rates system.

Local Welsh government secretary Mark Drakeford said at the time: “One of the most effective ways we can deliver tax cuts top small businesses is by making our business rates relief scheme permanent.”

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ABOUT THE EXPERT

Fred Heritage is deputy editor at Business Advice. He has a BA in politics and international relations from the University of Kent and an MA in international conflict from Kings College London. He previously worked as a reporter at Global Trade Review magazine.

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