Companies in the east of England will now be able to contact an export finance adviser free of charge to help them navigate the different types of insurance and finance available for exports. The new service is an addition to the support already available in the region from UK Trade and Investment, the government’s trade promotion body.
The new service is the result of the government plans to increase the regional presence of the UK’s export credit agency, UK Export Finance. This government body can provide export credit insurance and support for export finance where there are gaps in the support offered by banks and insurers. It has recently introduced new products and can now support a wider range of exports. The government is keen to encourage smaller companies to export more and hopes these steps may help remove some of the barriers around finding appropriate finance or insurance cover.
Liz Basing, international trade director for UKTI East said:
“The addition of an Export Finance Advisor will further strengthen the range of advice and practical support that companies in the East of England can access through UKTI. Finding export opportunities is a challenge, so we want to make sure they are not lost through a lack of awareness of appropriate insurance cover or bank finance.”
Patrick Crawford, chief executive of UK Export Finance said:
“I am aware that smaller exporters face a wide, and sometimes baffling, array of options for insuring or financing their export contracts. Our new Export Finance Advisers, working alongside UK Trade and Investment staff in the regions, will signpost businesses to market sources of credit insurance and trade finance, and to service providers and trade support bodies, and assist them to benefit from the products of UK Export Finance. In this way exporters should find the support they need to manage their risks and cash flow when exporting.”
The East of England Export Finance Advisor is Gill Targett-Adams.