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UK Trade & Investment (UKTI) is helping hundreds more companies than ever before to export. The latest quarterly survey shows that a record 20,700 businesses were helped to generate £3.6 billion in additional profit.
UKTI is also supporting companies through its Tradeshow Access Program (TAP), which provides grants of up to £1,800 to participate in tradeshows abroad. Changes to Tradeshow Access Program (TAP), which came into effect on April 1 this year, mean UK firms can apply for up to six grants, with the proviso that the company takes part in trade shows in more than one market.
This financial year, grants are available for over 400 trade shows in many markets.
UKTI customers were interviewed in early 2009 as part of the independent Performance and Impact Monitoring Survey (PIMS). While they reported that the global economic downturn had affected their businesses, over half (51%) were experiencing increasing demand from abroad.
The survey confirmed that UKTI had shot past its target of helping 20,000 businesses in twelve months. It said that 20,700 UK firms had received "significant assistance" from UKTI, an increase of 1,400 companies on the previous survey.
UKTI's customers, of which 90% are small and medium-sized businesses, estimated that UKTI helped their businesses to generate £3.6 billion in additional profit, up from £3 billion last year.
Minister for Trade and Investment Lord Davies of Abersoch said: "These excellent results show that UK Trade & Investment is helping UK firms to navigate out of the downturn.
"Companies that export are more resilient. In these difficult times, our challenge is to ensure that businesses know that there is Government help on offer for firms willing to seek out business opportunities overseas."
Also from April 1, a new package of support announced by Prime Minister Gordon Brown has come on stream. UKTI's ‘Gateway to Global Growth' initiative will provide specialist and tailored financial and legal advice to over 1,200 businesses in the next year to support their growth internationally.
UK Trade & Investment is encouraging businesses to register on its website www.uktradeinvest.gov.uk to find out more about the Government help on offer.
For more information on TAP, visit www.uktradeinvest.gov.uk/ukti/tap
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