The paper contains three key points that emphasise support for small and medium-sized enterprises in expanding their business and increasing their export activity.
The proposals include:
- Launching new trade finance and insurance products that will better support exporters - especially SMEs - and ensure that the service the Government provides to UK exporters competes well against similar services provided in other countries;
- Lobbying European partners to improve the regulatory environment in the Single Market for SMEs - including reducing unnecessary accounting and audit requirements; and,
- Increasing UK Trade and Investment’s focus on emerging markets and launching a new online service offering access to sales leads around the world.
Speaking ahead of its publication Prime Minister David Cameron said:
Strong trade policies and strong trade outcomes are of the utmost importance for our economy, helping to create jobs and build sustainable growth. That is why, since day one, we have put the promotion of trade at the heart of our foreign and economic policy. Harnessing the resources of every part of government; changing mindsets, sharpening our focus and doing all that we can to bolster UK trade and investment.
The UK has a rich and diverse trade history - but we cannot be complacent. We need to ensure business, especially our SMEs, have all the tools they need to flourish, that we strengthen and improve our relationship with trade partners around the world, that we fight protectionism and ensure poor countries can benefit fully from free and fair trade.
It is this Government’s total and steadfast dedication to create the best environment to boost trade and secure investment. That is our commitment to UK business and that is what this White Paper intends to deliver.
Business Secretary Vince Cable, who announced the paper to the House this afternoon, said:
Trade and investment are absolutely fundamental to rebuilding and rebalancing our economy. Encouraging small businesses to export more is at the heart of that.
There is real scope to improve the support offered to help SME’s move into international markets so that our companies can compete more effectively internationally for export opportunities.
A copy of the White Paper and related information can be found on the Department for Business, Innovation and Skills website.