UKTI and the First Time Exporters Initiative

Posted on: 07/08/2015 in: Export

In May this year, UK Trade and Investment (UKTI) launched a programme to support young businesses looking to break into the export market. As mentioned in an earlier blog post, it was announced by Francis Maude, Minister for Trade and Investment at the start of Export Week 2015. This is an annual event which takes place across the UK, with each region holding several events designed to encourage British companies to export or expand into new markets.  In this week’s blog, we’re taking a closer look at the detail of  the First Time Exporters Initiative.

The First Time Exporters Initiative sets out a support package of advice and logistical help for UK businesses interested in exporting as well as overseas companies bringing investment to the UK. UKTI is keen to encourage all businesses, regardless of their size and previous export experience, to find out more about the services that are available to them through UKTI.

This latest initiative offered:

  • 100 newly recruited International Trade Advisors for first time exporters, offering training, planning and support to new or inexperienced exporters to help them grow their business overseas. The idea is to support companies in getting started in overseas trade, by assessing and developing their export capability and providing help and support to research, choose and visit potential markets.  Event networking and tradeshow opportunities would also be signposted.
  • Export Savvy – UKTI also offered companies an online tool, named Export Savvy, to teach them the basics of exporting.
  • Export Insight Visits – Essentially trade missions led by UKTI that are part educational and part business orientated, where companies are introduced to Embassy help and assisted through their first contacts with foreign buyers.
  • Digital Advisers – A further team of 20 e-Exporting/Digital Advisors were being recruited, whose role would be to help first time Exporters to access digital markets.
  • The Great British Store – A website designed to promote links between small, innovative UK producers and buyers, agents and retailers overseas.
  • A new single integrated Global Events and Missions program.

The objective behind many of these measures is to save companies time and money on the process of getting to export markets. Even so, many SME owners simply don’t have the time to take up training, undertake research (even with the benefit of support) and so on, let alone make trips abroad as part of a Trade Minister’s entourage. Furthermore, since these measures were announced, David Cameron has announced that he intends to overhaul the way the government promotes exports, which has led some to speculate that UKTI might be downgraded and see significant cuts and job losses.* Whether this will affect the First Time Exporters Initiative remains to be seen – it is to be hoped not, but all the same, potential exporters may be well advised to keep in mind that there are alternative routes to export markets. What’s more, those routes could prove to be significantly more direct and less time consuming.

For further advice on fast track to exports, get in touch.

*Source : The Financial Times