Barclays Midland Trade Centre to launch a thousand enterprises

Barclays Midland Trade Centre to launch a thousand enterprises

Barclays has launched a new Midlands Trade Centre which it claims can help 1000 UK businesses to export more of their goods and services each year.


Baroness Fairhead, Britain’s Minister of State for Trade and Export Promotion opened Barclays' new Trade Centre in October and unveiled 30 export and product specialists who will advise local businesses on overseas trade.


The rationale for the new centre is to galvanise British businesses to start exporting sooner, according to Barclays, which said the specialists will help companies to sell more in their domestic markets too.


The launch of the Trade Centre is an addition to a previous investment initiative, the Barclays’ Midlands Growth Fund, whereby the bank has made £370 million available for loans to small to medium sized enterprises (SMEs) across the Midlands. 


Barclays says its Birmingham-based team has already helped businesses to export into markets such as India, Pakistan, Bangladesh, Europe, the Middle East and Africa. It also helping to prepare companies to approach the more challenging far eastern markets with good growth potential, such as China, South Korea, Thailand and Vietnam.


According to a Policy Institute study commissioned by Barclays the momentum of UK exporting can be boosted by the creation of ‘superstar exporters’, a term applied to firms that export 10 or more products to 10 or more overseas markets. 


These pioneers help establish the foundations of channels to market and a supply chain by which smaller firms can follow in their wake. “Helping firms to become superstar exporters can deliver wider benefits to the UK economy and Barclays is determined to play its part,” said Barclays Group CEO Jes Staley.


The trade centre’s main aims are to provide the right finance and essential  advice and guidance.


“The government’s new export strategy aims to increase the substance, availability and awareness of export support. I would encourage businesses up and down the country to make the most of the team’s expertise,” said Baroness Fairhead.

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