Thanks to the recent plunge in Sterling and the relative degree of market turbulence engendered by Brexit, current market conditions make it a favourable time for SMEs to embark on a concerted export drive, according to Barclays Bank.
The bank is aiming to help increase the number of new exporters by 2020 under a new partnership agreement with UK Trade and Investment (UKTI).
It follows a 3% increase in the number of businesses that Barclays has helped to grow has since the start of 2016, with some 12,000 SMEs helped in their export drives in the first six months of the year.
The bank now plans to offer specialist help to SMEs. Steve Childs, Barclays Head of International, said that now is a “great time” for businesses to export with a “wealth of opportunities” for UK products and services.
“While there are challenges for businesses that import, these are equalled, if not outweighed, by the possibilities that arise from exporting,” he said.