A DRIVE to help large numbers of Scottish businesses become “first-time exporters” has been launched by Bank of Scotland and parent company Lloyds Banking Group.
Lloyds has today unveiled a pledge to help 5,000 new exporters this year across its UK operations, and a total of 25,000 by 2020. The targets form part of its 2016 “charter” aimed at small and medium-sized enterprises (SMEs).
Graham Blair, director of Scottish SME banking at Bank of Scotland, said: “The future success of the Scottish economy hinges on small businesses looking to overseas markets for growth. Through this new pledge, we want to support a new legion of Scottish exporters, and ultimately to help the Scottish economy to prosper.”
Mr Blair said that the bank had been working with UK Trade & Investment, looking at ways to boost Scottish exports.
Economic surveys have, in recent times, consistently provided disappointing news on exports. Chancellor George Osborne’s March 2011 Budget vision of “a Britain carried aloft by the march of the makers” has failed to materialise, and the UK is weighed down by a yawning trade deficit.
UK trade and investment minister Lord Price said: “This Government has committed to having 100,000 more UK companies exporting by 2020 and this pledge by Lloyds is a welcome contribution towards this target. It’s great to see the banks doing their bit to support small and medium-sized businesses looking to invest and create jobs.”
Lloyds Banking Group has also pledged to “support 1,000 start-ups in 2016 to mature into established £1 million businesses within three years”.
And it has promised to help a further 100,000 start-ups “get off the ground” across the UK.
Lloyds Banking Group also said, as it flagged a “local lending” pledge, that it would expand the range of managers across its business with the authority to approve lending.
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