Figures that show a rise in the UK trade deficit highlight the importance of getting more small and medium sized companies exporting.
That’s the view of Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce – who last month launched the ‘Exporting is Good for Coventry and Warwickshire’ campaign.
The latest figures show a deficit of £4.2 billion for August compared with £1.7 billion in July.
Bennett said it was crucial that companies in the region took advantage of support available to trade overseas.
She said: “The figures are disappointing if not unexpected. There is no quick-fix but we are doing all we can to push the benefits of exporting to businesses on our patch.
“Only recently a new pool of £13 million was released by the Government to assist more companies in exports, and companies can take advantage of that.
“Also, our most recent Quarterly Economic survey highlighted that it is those businesses that are trading globally who are, in the main, growing faster.
“So the benefits are there and the businesses that we have supported in overseas trade are not all large firms. Many are SMEs who have found a niche in the market and have goods or services that are not only sought-after in the domestic market, but abroad too.
“That’s everything from the makers of quick-drying road surfaces to IT businesses.
“So I would urge companies who are looking to grow to make the most of the UK Trade & Investment (UKTI) team at the Chamber in order to get them on their way to exporting.”
