SMEs told to look overseas for business

THE UK Trade & Investment (UKTI) is calling for small and medium-sized enterprises (SMEs) to make 2012 the year of overseas trade.

Its regional director for the West Midlands, Doug Mahoney, said: “The West Midlands’ future prosperity will not come from domestic markets alone. Across the world there are markets that are showing strong, long-term growth. We want to make sure that UK firms are not just trading abroad but thriving there.

“We must drive up exports in 2012 and the number of exporters in the region as it’s the only way for the economy to grow. There is demand all around the world for products and services from the West Midlands but too many of our smaller firms are missing out on these opportunities.”

UKTI is also reminding SMEs to get their applications in for a chance to win a top prize of more than £5,000 worth of research and support for their business as the deadline has been extended to January 31.

The competition aims to encourage more businesses to export by offering a comprehensive package of support to the company with the best new export idea.
The overall West Midlands winner will receive UK Trade & Investment (UKTI) support worth £5,000 and three grants for overseas travel to their target markets, plus expert business knowledge and insight from sponsor companies HSBC and PwC.

Mahoney said: “If you are a small company with a big export idea, our competition could be the springboard to international growth that you need.”