AMBITIOUS businesses across the Eastern Region are leading the way in the UK proving that exporting opportunities exist in the current economic climate.
More than 5,600 businesses in the East of England have taken advantage of the favourable exchange rate conditions to look overseas for global success.
The region is proving that the recession does not have to hinder growth with exporting figures enjoying an excellent year-on-year increase with East of England companies at the forefront of this.
The new figures, released by HM Revenue & Customs (HMRC), prove that companies are exporting their way out of recession and utilising the favourable exchange rates. The number of companies exporting from the UK in Q3 rose by 2.5% from the same period last year. This means that 51,091 UK companies are currently exporting across the globe. The East of England, has seen the largest rise of any region over this period showing an increase of 5.7% with 5,664 companies now exporting from the region.
East of England International (EEI) believe these figures are set to keep on rising as global opportunities are given greater focus under EEI’s “Why Now is the Time to Export” campaign, in conjunction with UK Trade & Investment (UKTI). David Riches, EEI Chief Executive, said: “With exchange rates remaining favourable, we believe there has never been a better time to export. And these figures suggest Eastern Region firms are firmly behind this message.”
Mr Riches said: “We are very pleased that businesses across the East of England are looking abroad for exporting opportunities and we hope these figures will continue to grow.
“There is clearly untapped potential for more companies to export and to enhance the region’s significant contribution to the UK economy.
“With a reputation for entrepreneurship and innovation, East of England companies have a receptive global market in which to grow.”
Vic Annells, International Trade Director at UKTI, said: “It is pleasing to note that businesses across the Eastern Region are not allowing the difficult economic conditions to deter them from the vast opportunities that exporting can bring.
“UKTI provide opportunities, expert trade advice and support to UK-based companies wishing to grow their business overseas. Embassies across the globe offer bespoke support and introductory services offering ‘Money can’t buy opportunities. It also identifies and offers specialist advice on some of the world’s fastest-growing markets to ensure companies can capitalise on major commercial opportunities.”
While bad news for some, the existing currency rate gives respite to UK exporters facing a sharp slowdown in demand in the UK and highlights the importance of looking for opportunities overseas.
The “Why Now is the Time to Export” campaign aims to encourage Eastern Region firms to begin and grow their export business by highlighting the benefits of such expansion and the facilities available to help them do so.
Utilising the services of UKTI, each company benefits from a dedicated International Trade Advisor who provides a tailor-made solution and gives unrivalled access to commercial officers working in British Embassies, Consulates and High Commissions around the world.
Deborah Cadman, Chief Executive of the East of England Development Agency (EEDA), said:
“It is very encouraging to see companies in the East of England leading the way when it comes to exporting, and it's a clear sign that businesses in our region remain ambitious despite these challenging economic times.
“EEDA wholeheartedly back EEI's campaign which features on our new Business Map - http://www.bizmapeast.co.uk/ - an online tool which sign-posts businesses to such publicly-funded support.”
More information on the “Why Now is the Time to Export” campaign can be found by contacting EEI on 08456 419955 or visiting www.eei-online.com or www.uktradeinvest.gov.uk.