New financial support for UK SME exporters announced

This is the first time such an extensive financing package has been made available to small businesses exporting to fast-growing markets from the UK.

The package will include:

• The Small Deal Initiative – to back the army of exporters undertaking the smaller contracts that underpin British trade


• Extending financial support to firms in exporters’ supply chains as well as exporters themselves


• The General Export Facility – covers general costs for exporters, rather than just costs related to a specific export deal

The Secretary of State for International Trade Liam Fox said: “These announcements are potential gamechangers for our export industry, and will help us to tap a fresh vein of potential from within our economy.”

The Small Deals Initiative sees UKEF guaranteeing the loans of potential overseas buyers of British goods to make UK bids more competitive.

The General Export Facility also allows UKEF to support exporters’ overall working capital requirements, rather than requiring support to be linked to the needs of a specific export.

British businesses play an import role in global supply chains. The latest available data shows that nearly a quarter (23.7%) of UK exports in 2015 were embedded in the exports of other countries. This more flexible approach aims to give smaller business greater access to bonds and working capital.