Over two-thirds of British exporters (67%) feel government red tape is the biggest issue facing their business, according to new research* launched today by Bibby Financial Services.

Perhaps not surprisingly a similar number (64%) say a reduction in red tape would be the aspect of government policy they would most like to change. Other issues high on the agenda for the country's exporting community are commodity prices and overseas competition, with 24% and 19% respectively, citing them to be their primary challenge.

These views led to a staggering 42% of British exporters giving the Government a modest six out of ten for its record on exporting, suggesting that it could do more to help UK businesses trade overseas.

Despite concerns regarding government support, the majority of British exporters (85%) are confident about the prospects for UK exports in 2005. A third have seen their annual export turnover increase over the past 12 months.

Exporting has also helped businesses achieve higher profit margins (71%), while improving return on investment (69%) and reducing their businesses dependency on the domestic market (68%).

When looking at the recent changes to the European Union and it's expansion over the past 12 months, Britain's exporters are split over the benefits that it has brought to their businesses.

28% feel it has increased the opportunities for their business while a similar proportion (33%) feel it has increased competition within the UK's domestic market. Nearly a third (30%) did not consider EU enlargement to have had any impact on their business.

David Robertson, chief executive of Bibby Financial Services, said, 'It is encouraging to see confidence is high among UK exporters. However, in this election year the Government should listen with caution to the concerns voiced by the exporting community. Despite protestations to the contrary from ministers, red tape remains a huge issue and continues to hamper many British firms. If Tony Blair wants to secure the votes of the

British business community then this is something that he will need to address in his election manifesto.'

* Bibby Financial Services undertook research in December 2004 among a national sample of 137 British exporters.

Bibby Financial Services specialises in the provision of a range of business cash flow solutions to small and medium-sized enterprises including invoice finance, export finance, trade services, asset finance, recruitment finance and a range of business support solutions across a wide range of industry sectors.

As a global services provider, Bibby Financial Services has a network of 15 operating units throughout the UK and Ireland, and overseas companies in the USA, Poland, Australia, and France, offering a local, fast and flexible approach to servicing clients.

Bibby Financial Services is wholly owned by the Bibby Line Group, a business-to-business services group with interests in ship owning and operation, shallow water accommodation, oil field services, contract logistics and business finance.

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