Recommendation 5

UK Export Finance directly supported only 199 customers in total in 2019–20, failing to meet its own target of 500. UKEF attributes failing to meet its customer target to a lack of awareness among smaller businesses of what UKEF offers, a potential decline in demand, a lack of appetite from banks and issues with its application process. UKEF is introducing more flexible products which are expected to be more attractive to smaller businesses in a wider range of markets and help increase customer numbers. These include the General Export Facility which will support businesses’ overall export working capital requirements, rather than linking this support to specific contracts. In response to the COVID-19 pandemic it has also expanded the scope of its Export Insurance Policy to a wider number of markets, with the aim of protecting UK exporters from the risk of non-payment, and it has taken steps to proactively engage with the renewable energy sector, supporting projects in Taiwan, Spain and Ghana. However, how effective UKEF is at meeting its customers’ needs is unclear because, unlike the Department, it does not survey its customers to assess their satisfaction with its products and application processes. Recommendation: UKEF should report back to us in writing by September 2021 with an update on progress and action is has taken to: • Proactively target the green technology and renewable energy market. • Increase the number of SMEs it is supporting in a wider range of countries through take up of its new General Export Facility, and consider using UKEF recently approved marketing budget to do that. 8 Government support for UK exporters • Support exporters during the COVID-19 pandemic, particularly in relation to the expansion of the scope of its Export Insurance Policy to a wider number of markets. • Develop and implement a customer satisfaction survey. UKEF should consider the merits of developing its own survey as well as working with the Department to identify oppor