UK trade and export finance: why now?

Between Brexit, COVID-19, and supply chain disruptions, foreign markets do not look the most inviting for UK businesses.

Despite the host of recent macroeconomic challenges, however, international trade and exports remain a viable business opportunity for looking to expand. 

With a little bit of guidance, these markets can still be feasible and prosperous.

This is why Trade Finance Global (TFG) launched a Trade and Export Finance Guide earlier this year in conjunction with the UK Department of International Trade (DIT) and UK Export Finance (UKEF).  

To further discuss this guide and why it can be a pivotal resource for exporting businesses in today’s climate, Deepesh Patel, director of partnerships and marketing at TFG, spoke with Paul McCombe, director of UK exports at DIT. 

The four persistent barriers to trade

There are some challenges that are just difficult to eradicate.

In international trade, there are four persistent barriers that DIT repeatedly hears about, particularly when speaking with small businesses. 

“It’s not that these challenges aren’t felt by the big corporates, but there’s a general sense that they will have a dedicated department that can get its head around what needs to be done,” McCombe said.

These challenges relate to cost, knowledge, networks, and investment.

Cost

As with many business operations, costs are a major driver of what…