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Millions in export credit | UK and Spain trade bond | UK entrepreneurs rise

Government export support gives businesses access to millions
On 12 July the UK’s export credit agency, UK Export Finance (UKEF), announced a partnership with five of the UK’s biggest banks (Barclays, HSBC, Lloyds Banking Group, RBS/NatWest and Santander) to deliver Government-backed financial support to exporters and supply chain companies of UK exporters.
Extending this support will increase the number of businesses able to access UKEF-backed trade finance and therefore smaller companies will now be able to benefit from their clients’ international business.
Jeff Longhurst, UK Finance Head of Commercial, said: “With nearly 70 per cent of international SMEs planning to grow in the next 12 months, today’s announcement is a boost for both SMEs and the wider economy.”

Liam Fox celebrates trading bond between UK and Spain
Last week the International Trade Secretary, Dr Liam Fox, addressed the Spain-UK Business Forum at Mansion House. The event celebrated the strong and historic ties between the two nations, and laid the grounds for future success.
The International Trade Secretary highlighted that as the UK enters a new chapter, the values we share with Spain politically, economically and socially will ensure that this relationship continues to flourish.
Today the bilateral trade between Spain and the UK stands at £40 billion. Spain is the UK’s ninth-largest export market and more than 700 British companies have invested in the country. In return the UK now attracts more investment from Spain than any other country on Earth.
Britain’s entrepreneurs, sole traders and SMEs are on the rise
According to new research released by LinkedIn there is a continued pattern of British workers going it alone as the number of entrepreneurs, sole traders, and SMEs continues to rise. The research was based on a pool of LinkedIn’s 23 million UK members between April 2016 and April 2017.
One year on, the research shows an increase in the number of professionals in entrepreneurship of 6.4 per cent and in consulting by 5.8 per cent. During the same period the number of sole traders rose by 13.5 per cent and the number of small companies (1-10 employees) by 4.1 per cent.
Josh Graff, UK Country Manager and Vice President EMEA at LinkedIn, said: “Our findings should give confidence to professionals who are thinking about taking the leap and striking out on their own.”

Thursday 20 July 2017

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