Findings from a recent YouGov poll of decision makers in British businesses show that the UK has often succeeded in trading with its close neighbours, but hasn’t been so successful further afield, with countries with great potential. Of the businesses which export, 84 per cent trade with Europe, and only a third with China (34%), Africa (34%) and South America (31%).
Ana said Santander is doing its bit to help SMEs. Since entering the SME lending market in 2009, Santander UK has increased its net lending to businesses by an average of 15% a year, despite an overall contraction in the market.
Ana said: “If we want the economy to grow, if we truly want to help businesses, we should share the responsibility for helping businesses break into new markets. We cannot simply be spectators, cheering from the sidelines: we have to get onto the pitch and play our part.”
To help UK export more in the future, Ana highlighted the need for a concerted effort to improve the digital skills of the workforce. Four and a half million people in the UK, aged 15 to 65, have yet to join the digital economy, as they don’t have basic online skills - they can’t send an email or perform a simple search. Ana commented: “Once again, this is not the responsibility of government alone. All of us in business need to do as much as we can to train our workforce – all our workforce – so that it can harness the power of the digital revolution.”
As an example of businesses working together to help UK companies, ten fast-growing UK SMEs are travelling to New York today, as part of a week-long trade mission organised by Santander Breakthrough and Goldman Sachs (as part of its 10,000 Small Businesses programme). The aim of the initiative is to help these firms better understand the significant trade opportunities open to UK businesses within the US market, and will include exclusive networking receptions, regulatory insights and business workshops.
Ana said: “Many of the delegates taking part in this mission have, or are looking to develop, an export focus and can see the vast opportunities available in the US marketplace. The aim of the trip is to help break down the potential trade barriers, stimulate exports and encourage international growth. International trade can be a daunting thought for SMEs and Santander is pleased to be working alongside Goldman Sachs’ 10,000 Small Businesses programme to provide the support and advice needed.”
Michael Sherwood, Vice Chairman Goldman Sachs, Co-Chief Executive Goldman Sachs International, said: “Goldman Sachs is delighted to be partnering with Santander for the trade mission to New York. Our 10,000 Small Businesses programme helps ambitious small businesses grow, and breaking in to new markets can play a vital role in this.”
The selected businesses will spend six days networking with, and learning from, a selection of experienced global business leaders and exporters including representatives from Empire Global Ventures, Rooney PC and the New York Economic Development Corporation.
Delegates will find out how the US marketplace works in terms of its competitive landscape and distribution networks, as well as learning about specific regulations through sessions with UK Trade Investment, Santander US, Goldman Sachs US and representatives from the Mayor of New York City’s office. They will also attend exclusive networking receptions with the British Consulate-General and a breakfast event with The Manhattan Chamber of Commerce.