UK Export Finance’s (UKEF) annual report and accounts, published this week, reveal its support for exporters from the North West resulted in £42 million worth of overseas sales.
One company supported by UKEF in the last year is Cheshire based TALL Group which provide secure paper products such as educational certificates, cheques and ballot papers. The company used UKEF’s export insurance policy to cover a £330,000 export deal to supply two million high-school diplomas to Kenya.
Bill Lamb, Group Finance Director at TALL Group, said, “This support from UKEF was absolutely critical. It gave us the confidence to be able to proceed and build our relationship with a new client. We have just received a further contract from the Kenyan National Examination Council, meaning that that one insurance policy from UKEF could enable a great deal more future business.”
UKEF’s latest results reveal it has provided £4.4 billion in support for UK exports over the last year, supporting trade with 69 countries.
There was a sharp increase in companies in UK supply chains benefiting from UKEF support due a significant proportion of UKEF business going to industries with strong UK supply chains, with nearly £2 billion for the construction sector and over £500 million for manufacturers.
Secretary of State for International Trade, Liz Truss, said:
“This has been another outstanding year for UK Export Finance, helping businesses in every part of the UK win export contracts.
“Supporting international trade will be crucial as the UK looks to recover from the impact of the COVID-19 pandemic. UK Export Finance is already playing a critical role at the centre of the government’s plan to power an export-led recovery and its offer is more important than ever for UK exporters.”
Local exporters who want to know more about UKEF’s support are encouraged to contact their local Export Finance Manager Kevin Ledwith on [email protected] or visit https://www.great.gov.uk/trade-finance/.