Pictured above: Brian Colquhoun
Moves to maximise support for Midlands businesses in the world
export market have been welcomed by Yorkshire Bank, following the
publication of the White Paper on Trade from The Department for
Business Innovation and Skills, which aims to increase export
opportunities for companies of all sizes.
Brian Colquhoun, regional director for Yorkshire Bank, said
increased support for businesses looking to branch out abroad,
could only be a good thing given the current economic
conditions:
He said: "Britain has a proud tradition of exporting the very
best products and ideas worldwide and this is something which needs
to continue if we are to maintain our reputation overseas. What is
important to remember, though, is that the export market is not
just for big business, it can also offer opportunities for smaller
operators too.
"One of the themes that the White Paper on Trade looks at is the
difficulties faced by SMEs and first time exporters in gaining
access to international trade finance. It is important to note that
lending to the manufacturing sector, for example, remains strong
and there are indications that we could see an increase in mergers
and acquisitions this year. While there will be challenges ahead
for many businesses, the relative strength of the pound and the
high demand for UK products abroad could mean opportunities for
growth start to materialise for strong businesses.
"The UK is currently the world's sixth largest exporter.
Although the timing won't be right for every business, companies
that are investing for growth could reap future benefits. With that
in mind we would urge businesses of all sizes to consider the
opportunities available in emerging markets such as China, India,
Brazil and the Middle East. The very real prospects of profiting
from these new markets means that both traditional trading and E
Commerce offer fantastic opportunities to enterprising members of
the business community.
"Yorkshire Bank remains committed to backing strong, trading
businesses and our network of Financial Solutions Centres (FSCs)
operates to respond to local business needs. Businesses accessing
our services can expect fast local decision making and access to
specialist staff under one roof that can help build the strongest
possible business case."