Invoice Factoring Blog – Export trade is on the rise in the UK

Half of small to medium-sized companies trading internationally report an increase in the export side of their business, according to research from Liverpool invoice finance firm Bibby Financial Services.

The research, conducted among 300 small and medium-sized importers and exporters across a range of sector, found that 47% of companies trading internationally have reported growth in the export side of their business in the past 12 months.

A total of 44% have maintained export sales at the same level, while 9% have noticed a decline, the study from Bibby found. Andy Meadwell, international trade finance spokesperson for Bibby Financial Services, said: “The UK government has placed a huge emphasis on the role international trade will play in driving the UK out of recession and reducing national debt.”

He added: “With the latest Office of National Statistics figures showing a contraction in GDP of 0.5% over quarter four 2010, and Britain’s trade deficit reaching a record high towards the end of last year despite a growth in exports, there is an obvious need to drive international trade even further and promote the price competitiveness of UK goods and services on the world stage.”

However, more than a third (34%) said overseas red tape was a barrier to trade, with 18% viewing issues associated with securing new business as being a main factor.

What are Export Factoring solutions.
Export factoring is a specialist facility offered by some invoice factoring companies to help finance exports and international sales. The process usually involves a third party finance organisation in the country in which you are doing business in order that payment can be collected as per the normal arrangement with invoice factoring facilities.

Not all invoice factoring companies have access to Export Factoring but Factoring Finance Ltd has an extensive and independent UK wide broker network including Export Factoring specialists.

Bookmark the permalink. Both comments and trackbacks are currently closed.