Source · Select Committees · Public Accounts Committee
Recommendation 15
15
We asked the Department how it planned to support businesses, particularly small and medium-sized businesses...
Conclusion
We asked the Department how it planned to support businesses, particularly small and medium-sized businesses (SMEs), to take advantage of the opportunities in trade agreements.36 The Department’s 2020 survey of UK registered businesses found that just 28% of surveyed businesses who exported to non-EU countries knew whether the goods they most frequently exported were eligible for reduced customs duties.37 In our 2020 report on government support for exporters, we raised concerns that the Department was not doing enough to support small and innovative businesses to export.38
Government Response
Not Addressed
HM Government
Not Addressed
3.2 The department will write within 12 months on this recommendation. DIT is already helping businesses take advantage of trade agreements and market openings and is committed to further improving its offer. The department will write to set out how this is being done. 3.3 Supporting small and medium-sized enterprises (SMEs) is a key part of the refreshed Export Strategy, including supporting the department’s broader efforts to remove market access barriers. The Export Support Service (ESS) provides cross-government advice and support for exporting to Europe, the Export Academy offers business-led exporting training, and UK Export Finance has expanded its range of lenders, meaning SMEs will be better served in securing new opportunities. The department estimates that of the 7,300 ESS enquiries received by 20 March 2022, 7,000 have been from SMEs. To ensure the connection with departmental initiatives, ESS will expand globally creating an export system to support all businesses. 3.4 Across all regions and devolved administrations, partnerships with external stakeholders will help inform businesses how to utilise FTAs and develop export plans. Supporting SMEs to understand and access the benefits of FTAs is part of the domestic facing 'Made in the UK, Sold to the World' campaign, which shifts attitudes towards exporting. The Department will continue to deliver missions and events, activating a programme to encourage business-to-business collaboration and utilisation of FTA gains. 3.5 As part of this ongoing work DIT has already launched a new project which will consistently and continually evaluate and improve the department’s approach to FTA utilisation. This project will inform the department’s work in response to this recommendation.