There is a popular misconception that the UK economy is simply service-led and that manufacturing has a shrinking role. However, the statistics tell a different story. The Manufacturer magazine points out that the UK is the eleventh largest manufacturing nation in the world and that manufacturing makes up 11% of UK exports. The forecast for export growth over the next decade is 46%, giving a total value of £445bn in UK goods in 2026, up from £305bn at present.
There is room for growth and for more opportunity. But how can manufacturers become successful exporters?
Discovering More About Manufacturers
The key to export growth is enabling those wishing to trade overseas to make the most of the opportunities available to them.
“In order to understand better what drives or holds back companies wanting to do business outside the UK, we need to find out more about them,” explains Santander Relationship Director, Louise Cross.
Santander, in association with The Manufacturer, has produced a survey aimed at UK manufacturers wishing to trade overseas. “This will help us to understand what more can be done to support international business within the manufacturing sector”, Louise states. “It should give us really useful data to assist us in improving the banking offers we can make to manufacturing companies”.
Financial support is a key element to helping exporting manufacturers, providing working capital through overdrafts, and other fundamentals such as invoice financing.
“We want to be able to help UK manufacturers achieve their export goals”, Louise concludes. “The more we can build up a clear picture of where they are now and want they want to achieve, the easier it will be for us to provide the right level of support to enable them to grow their trade in overseas markets”.
Businesses completing the survey will receive a six month Gold Membership for The Manufacturer magazine, and the opportunity to be invited to Santander’s future special events and projects. To access the survey please click here.
The post How Can We Support Export Growth in Manufacturing? appeared first on Export Experts Magazine.