{"id":54983,"date":"2015-03-11T10:28:30","date_gmt":"2015-03-11T10:28:30","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=3fa5806054d5e726b2736b88b22ecbf6"},"modified":"2015-03-11T10:28:30","modified_gmt":"2015-03-11T10:28:30","slug":"press-release-ukti-trebles-number-of-medium-sized-businesses-receiving-export-support-to-3000","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=54983","title":{"rendered":"Press release: UKTI trebles number of medium sized businesses receiving export support to 3,000"},"content":{"rendered":"
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Over 3,000 medium sized businesses (MSBs<\/abbr>) are now receiving government support to break into new markets overseas, Trade Minister Lord Livingston announced today (11 March 2015).<\/p>\n

UK Trade and Investment (UKTI<\/abbr>), the government department that helps UK companies succeed globally, has increased the number of MSBs<\/abbr> assisted from 1,000 to 3,000 in the past year. Encouraging more MSBs<\/abbr> to export is a vital part of the government\u2019s long-term economic plan to create jobs and reduce the deficit. <\/p>\n

Lord Livingston said: <\/p>\n

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Medium sized businesses can be the driving force of the UK economy. By trebling the number receiving support from UKTI<\/abbr> to over 3,000, we are helping to create jobs and growth across the UK.<\/p>\n

Exporting is not just for large firms and UKTI<\/abbr>\u2019s tailored programmes can help British MSBs<\/abbr> to compete with the best the rest of the world has to offer.<\/p>\n<\/blockquote>\n

MSBs<\/abbr> play a vital role in the economy \u2013 despite making up just 0.5% of all firms, they currently account for around a fifth of employment and 25% of turnover in the UK. This contribution is set to grow and according to Confederation of British Industry (CBI<\/abbr>) estimates, could be worth up to \u00a350 billion to the UK economy by 2020. <\/p>\n

Helping MSBs<\/abbr> export will also benefit small UK companies: 70% of MSB suppliers come from our domestic economy.<\/p>\n

Simon Moore, CBI<\/abbr> International Director, said:<\/p>\n

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Our medium sized businesses contribute a huge amount to the British economy and their export performance will be crucial to our prosperity in the next 5 years and beyond.<\/p>\n

We have worked hard to unlock this growth potential, so it\u2019s good to see government providing more support to help these types of businesses improve their export performance.<\/p>\n

It\u2019s imperative government and other businesses continue to help MSBs<\/abbr> sell their products and services into high-growth markets around the world.<\/p>\n<\/blockquote>\n

UKTI<\/abbr> helps MSBs<\/abbr> with guidance on export strategies, routes to market, international business culture, sources of additional expertise, and access to the unrivalled UKTI<\/abbr> global contact network.<\/p>\n

In April 2014 Lord Livingston wrote to all of the UK\u2019s medium sized businesses to ask them if they would like trade support from UKTI<\/abbr>. A target to recruit 3,000 MSBs<\/abbr> by April 2015 has already been achieved. Companies interested in learning more about exporting opportunities should contact UKTI<\/abbr><\/a>. <\/p>\n

Notes to Editors<\/h3>\n
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  1. UK Trade & Investment (UKTI<\/abbr>) provides a variety of support for medium sized businesses<\/a> (companies with a turnover of between \u00a325 million and \u00a3250 million)<\/li>\n
  2. Support is delivered by UKTI<\/abbr>\u2019s regional International Trade Teams. Exporters will be assigned local UKTI<\/abbr> trade experts to work with. Help can include:\n