Welsh SMEs

Welsh SMEs urged to seize export finance opportunity

Secretary of state for Wales Alun Cairns has called on Welsh SMEs to take advantage of the new UK government-backed export finance opportunity to help gain access to global growth markets.

Mr Cairns delivered a keynote speech at the 19th Fast Growth 50 gala dinner in Cardiff, where a number of the best Welsh entrepreneurships and the fastest-growing businesses in Wales were in attendance.

The secretary of state highlighted the new UK Export Finance (UKEF) partnership – supported by five high street banks – which is designed to enable Welsh SMEs to access support directly from their bank in seconds, without needing to apply separately.

The fund will support businesses such as those on the Fast Growth 50 list to become part of major export contracts around the world.

Since it was established in 1999, the 551 companies that have featured on the Fast Growth 50 list have created over 34,000 jobs and generated an estimated £18bn for the Welsh economy.

Mr Cairns said: “The Fast Growth 50 ceremony is a key date in the Welsh business calendar.

“It presents a welcome opportunity to reflect over the year that has passed, and to celebrate the many successes that businesses have worked tirelessly to create.

“So many of the companies that have decorated the FG50 rosters over the years are now delivering services and exporting their products right around the globe.

“The UK government wants to do more to ensure Welsh businesses take advantage of every opportunity available to them to grow and expand into new markets.

“The support provided by UK Export Finance is a valuable resource for businesses throughout the whole of the UK, Wales included.

“Unleashing the potential of companies … will be key to ensuring the Welsh economy continues to prosper.”

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