Mid-sized UK manufacturers are to be offered tailored trade advice and an intensive support programme to help them start exporting or break into new markets, Trade Minister Lord Livingston (pictured) has announced.
The minister is writing to almost 9000 mid-sized businesses by this summer to ask them if they would like trade support from UK Trade and Investment (UKTI) pointing out that they each stand to increase sales by £1.8m and add a cumulative £20bn to £50bn to the UK economy.
Currently, only 17% of UK mid-sized businesses generate revenues outside of the EU compared to 25% in Germany and 30% in Italy.
Speaking ahead of a conference showcasing successful German companies to Britain, Lord Livingston said: “Mid-sized businesses have the potential to be economic powerhouses for the UK economy, creating jobs and growth for all regions of the UK.
“Their success is dependent on expanding beyond domestic markets so we will be making personal contact with all mid-sized businesses to find out what we can do to help them go up a gear and compete with the best the rest of the world has to offer.”
A pilot study will be conducted in Yorkshire and the South East followed by a full national roll out.
Copyright Ken Hurst 2014