Small businesses demand more from Liam Fox’s post-Brexit exporting strategy
Responding to Fox’s announcement, Mike Cherry, chairman of the Federation of Small Businesses (FSB), said the success of Britain’s economy depended on smaller exporters. Cherry welcomed Fox’s GDP target, but raised concerns over a lack of definitive, detailed interventions set out in the strategy. Specifically, the need to offer financial and practical support to get small firms exporting. “We welcome the emphasis on the Great.gov.uk platform, peer to peer learning and better joined-up support to allow small firms to get the help they need whoever they approach. But, we now need to see much more being done to encourage smaller businesses to access both new markets and business support, ” Cherry said. “Incentives like export vouchers and grants should be made available to small businesses to help them with upfront investment costs for things like translation services or additional market research.An assessment of financial incentives, including export vouchers, as mentioned in the strategy, is a step in the right direction, but we are fast running out of time.
Last year businesses exported 620bn of goods and services 30% of GDP.? Dr Liam Fox MP (@LiamFox) August 21, 2018
Our new export strategy will help to increase that to 35% of GDP.
Here’s how we can help https://t.co/LSt84QNlPy #ExportStrategy #ExportingIsGREAT pic.twitter.com/5CDRbDU7mq
“The clock is ticking.”Cherry added: “If the government doesnt act quickly and introduce financial incentives there is a risk the current uncertainty will have a serious and detrimental impact on the growth of small businesses.” Most read this week:
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“UK brands are held in high esteem”While the FSB challenged Fox’s ambition, auction platform eBay praised the exporting strategy. Responding to Fox’s speech, Rob Hattrell, eBay UK vice president, said there was huge demand? for British-designed and British-manufactured products. £93% of the 200, 000 British firms who operate on eBay.co.uk exported to five or more countries last year, many of them outside the EU, and this number continues to grow. These firms benefit from access to helpful tools and tailored advice from our seller team to help take their products into new markets. Hattrell added: We welcome the international trade secretary’s vision to make Britain a bigger exporting superpower by putting small businesses at the heart of its exporting strategy. They have the flexibility to respond to the changing markets of the future.
4 eBay exporting tipsHattrell offered new eBay users four exporting tips for establishing overseas sales from day one.
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