Recommendation 9

We were concerned that the Department concentrates on identifying which overseas markets might provide contacts for the UK’s existing exporters.16 These may be larger firms in more established markets that already generate high value exports. However longer-term export growth will come from focusing on some of the smaller innovative businesses which have potential to grow. The Department noted that large companies often employ a lot of people and create a lot of value but agreed that it should also focus on smaller firms, and encourage companies that are not currently exporting to do so.17 The Department recognises that one of the most significant things in encouraging businesses to export is peer support and hearing from others of how it is done.18 The Department also emphasised that it seeks to put resources into regions where it expects growth. For example, it has increased its staff in both Africa and Latin America, while more mature markets like North America have received less additional funding over the past few years.19 The Department established the Europe trade hub in April 2019 to provide extra support to businesses in recognition of the changing trading environment resulting from the UK leaving the EU. It was considered successful and welcomed by businesses of all sizes.20