Pictured: Midlands lawyer Andrew Shipley of Challinors, says businesses should take advantage of the regional funding packages announced by the Government and embrace international trade

Midlands SMEs are being urged to take full advantage of the regional funding packages and Government initiative to support a growth in UK exports that were unveiled at the recent 'National Challenge' conference event.

With main speakers Prime Minster David Cameron, Vince Cable and Evan Davies, the event explored the growth the country needs to restart its economy, and the role of exports in achieving this, driven largely by SMEs, as the businesses most likely to create growth. The plans are spearheaded by the Government tasking UKTI to encourage 100,000 SMEs to export for the first time or export more within the next five years.

In the wake of the event and the Government's announcements, Midlands lawyer Andrew Shipley of Challinors, sole legal sponsor of the East Midlands International Trade Association (emita) and a growing legal light in international contractual disputes, is urging local businesses to take advantage of the region's advisory network to maximise their chances of the Government's initiative. 

"The gap between what the UK exports and imports is apparently only 2 percent and yet that is the main cause of our long term borrowing," explains Andrew. "In one hand, this would suggest the situation is easy to solve. However, the reality is that to achieve the 100,000 target, the Government needs to find fifty SMEs in every constituency across the country, and for each one of them to increase export sales by £1 million per year.

"UKTI is the main tool the Government intends to use to achieve this target. However, understandably many regional businesses are unclear on how to begin the journey into international trade, and how to access the Regional Growth Fund announced at the conference. They should turn to local advisors across the region for guidance and support.

"The Midlands is rich in advisors experienced and familiar with cross-border trading which place the region's small and medium sized businesses at a real advantage to the rest of the country. Indeed many advisors, like Challinors, already have close links with and extensive experience of working with UKTI and can guide them through the process to maximum effect."

The conference revealed that Britain exports more to Ireland than to Russia, China, Brazil and India combined. Under the Government's latest initiatives, businesses are being encouraged to look to the whole of the UK, US, Germany, France, China and India as key markets for growth.

The new Regional Growth Fund, administered by RBS and the HSBC, is aimed at providing specific loans to small and medium sized businesses to assist them in developing international trade activities with these countries.

"Whilst the Government is clearly throwing its weight and support behind developing the country's export potential and activities, there are a host of packages, products and funding deals available," says Andrew. "However, businesses are understandably confused about the right one for them, and how to go about moving things forward. Challinors can work with them to select the best and most relevant products, and set the wheels in motion with UKTI.

"Furthermore, East Midlands businesses in particular can take advantage of a new trade finance expert scheduled to take up residence in the region before Christmas, which will be another great resource for SMEs."

He adds: "There is clearly a large head of steam built up within and by the Government around the development of international markets. The challenge is for advisors to work with businesses to find ways of accessing this in the most cost effective and results-driven manner."

Challinors has five strategically-located offices across the Midlands - Birmingham, West Bromwich, Wolverhampton and Halesowen in the West Midlands, and Nottingham in the East Midlands. It has a team of over 200, including17 partners, over 100 fee earners, and teams dedicated to providing specialist legal services from corporate and commercial, construction, dispute resolution, fraud and asset recovery, to professional negligence, business crime, commercial property and employment. The firm is ranked Number 1 in the Chambers UK Directory and Top Tier in The Legal 500, in a number of categories.