HM Government, through UK Export Finance (UKEF), is working with major global companies to create export opportunities for manufacturers like you.
This is an exciting time for UK manufacturing. Trade is at the forefront of the national agenda and HM Government is committed to ensuring businesses are supported and ready to capitalise on the huge international demand for high quality British goods.
To achieve this, HM Government is putting UKEF at the heart of trade promotion.
UKEF is the UK’s export credit agency and a government department committed to making UK goods and services as globally competitive as possible.
We all know trade is about supply and demand, so part of our strategy is to actively seek and secure new market opportunities for UK suppliers; opportunities to sell to major global projects around the world, backed by UK government financing.
How is UKEF doing this?
The international desire for UK goods is strong but, especially on large projects, finance can influence procurement decisions too. That’s where we come in.
The UK Government, through UKEF, can offer competitive finance for overseas buyers to procure UK goods and services, making UK exports even more accessible, attractive and internationally competitive.
Using this approach, we finance major international projects run by some of the largest companies in the world – and work with those companies to significantly increase the UK contribution to those projects.
When we support a project, UKEF works to directly connect the project’s procurement teams with appropriate UK suppliers at its supplier fair events: getting you in a room face-to-face with the decision-makers and ensuring your business can realise the full potential of the export opportunities available.
And this isn’t just about big companies. 79% of the companies we supported last year were small to medium-sized businesses. We’re making a real difference to real manufacturers, big and small, helping them to grow their business globally.
Once you’ve won the business, UKEF can support you throughout your entire exporting journey. From contract bond and working capital loan support, to export credit insurance, UKEF can offer you government-backed finance too, to make your exports happen.
UKEF has so far worked with five sponsors and primary contractors on major global projects, resulting in hundreds of millions of pounds of additional exports for UK suppliers like you.
For example, last year, UKEF provided Reliance Industries, the largest publicly listed company in India, with a £300m line of credit to help fund construction work on its refinery in Jamnagar. This helped secure more than 100 contracts awarded to UK companies.
From creating export opportunities to helping you win and finance them, UKEF is giving UK manufacturers the exporting edge. And even if you’ve never exported before, UKEF’s supplier fairs are a great way to take that first step and open the door to the world of opportunity that’s out there for businesses like yours.
So, the next time we need UK manufacturers to supply into a major opportunity, backed by UK Government financing, make sure you’re ready to seize it.
UK Export Finance is a co-host of The Manufacturer’s upcoming Manufacturing Finance Summit. Manufacturing Finance Summit is the UK’s largest gathering of manufacturing finance professionals – 80 growth-minded executives from across automotive, aerospace, defence, electronics, food & drink and FMCG – coming together to examine how the finance function is transforming. Rather than sitting through endless PowerPoint presentations, our unique Summit discussion format lets you sit next to the experts and ask questions that matter most to your business. Join the conversation by securing your seat at the Manufacturing Finance Summit – 16 May 2018, Oxford.
Register here to be alerted about supplier fair opportunities from UKEF
Richard Simon-Lewis, Head of Origination, Client Coverage, Marketing and Communications
Richard is the Head of Origination, Client Coverage, Marketing and Communications at UK Export Finance (UKEF), the UK’s export credit agency.
In this role, he is responsible for seeking and securing global opportunities for UK exporters, helping to connect UK capability with international demand, raising awareness of UKEF’s support among exporters and overseas buyers, and generating new business both at home and abroad.
