Lloyds launches new export service
Lloyds Banking Group has announced a new drive to help East Midlands businesses become ‘first time’ exporters, as part of an effort to help support the growth of SMEs and to help reverse the country’s widening trade deficit.
The Group’s new export pledge will see it support 5,000 first time exporters during 2016, and a total of 25,000 by 2020 – a target which will help contribute towards the Government’s goal of helping 100,000 businesses start trading overseas, as part of its Exporting is GREAT campaign, by the end of the decade.
The new commitment is part of the Group’s 2016 SME Charter, published today (4th April), which also includes pledges to continue growing lending to small businesses; help a new generation of start-up businesses; and support small firms on their next phase of growth.
Jon Pulford, regional director, SME Banking at Lloyds Bank Commercial Banking in East Midlands, Lloyds Banking Group, said: “The future success of the UK economy hinges on small businesses looking to overseas markets for growth. Through this new pledge, we want to support a new legion of UK exporters, and ultimately to help the UK economy to prosper.
“We have been working in partnership with UKTI for the past year, looking at ways to boost UK exports, and through this commitment we hope to contribute towards its goal of supporting 100,000 new exporters by 2020.”
Lloyds has committed to invest a total of £450m in digital technology and training, over the coming three years, which will help support the commitment. Key developments will be a new International Trade Portal, through which businesses across the UK will be able to learn how to identify opportunities and operate across the globe; as well as a new internet banking portal for businesses.
The Group also has a network of export specialists, on the ground across the UK, who help develop overseas trade opportunities for customers; provide specialist banking support; and advise on the countries that customers are hoping to target. In addition, the Group has trained more than 300 staff across the UK in international trade.
Pulford continued: “Successful exporting is no mean feat – and that is why we are investing in both on-the-ground expertise and digital technology, in order to ensure that businesses have the backing they need to succeed.”
