The Department for International Trade (DIT) has outlined support available to 160,000 exporters in the UK, explaining how they can secure finance to keep trading during the coronavirus outbreak.
As well as advice on what financial support is available, DIT has confirmed that it is ready to provide assistance with customs authorities, to ensure smooth clearance of businesses’ products, and to offer advice on intellectual property and other issues affecting business continuity.
International Trade Secretary, Liz Truss, said: “During this turbulent time, we are taking every step we can to ensure UK exporters are protected and that the economy remains strong.”
The Government’s network of trade, policy and business specialists across the UK and around the world will continue to provide support where it is most needed, she went on, to ensure the country can continue trading.
DIT’s 170 International Trade Advisers are already reaching out to businesses across the country to provide advice on keeping trade flowing. Details of their services can be found at www.great.gov.uk/contact/office-finder.
The latest message from the Department follows the news that UK businesses will now be eligible to secure export insurance cover to markets including the EU, United States, Japan, Australia, New Zealand, Canada, Iceland, Norway and Switzerland with immediate effect (see “Exporters get COVID-19 protection”).
Exports to these markets totalled £499 billion last year, accounting for 74% of all international sales from the UK.
Ms Truss has directed attention to the DIT advice, Coronavirus (COVID-19): Guidance for UK Businesses Trading Internationally, which can be found at www.gov.uk/government/publications/coronavirus-covid-19-guidance-for-uk-businesses/coronavirus-covid-19-guidance-for-uk-businesses-trading-internationally.
This includes numerous links to relevant schemes launched recently by Chancellor Rishi Sunak and to other help available to exporters at this difficult time.
Last reviewed 13 April 2020