Immersive VR and simulator specialist Holovis International wins £4m backing for Middle East growth
Expansion into the Middle East includes work on a multi-million pound project in Abu Dhabi and a new permanent office there
03:00, 9 JUL 2021
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Simworx secures new export funding
Black Country manufacturer agrees new capital through government initiative set up to help UK SMEs export
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A Black Country manufacturer has become the first UK business to take advantage of a new funding offer from the Government s credit agency UK Export Finance.
Kingswinford-based Simworx has secured a new undisclosed finance package via the initiative which has been set up to help businesses grow their international sales.
British exporters need the UK to sign more trade deals if they are to trade their way back to profitability following the double whammy of Brexit and the Covid-19 pandemic, according to new data from HSBC.
In a recent survey of 1,000 UK businesses, conducted by polling firm YouGov in January for HSBC UK, 62% say that free trade agreements will be important to growing profits in the future, while just over a third say that they would want a trade deal to be in place before they would consider a new overseas market.
“The end of the transition period coupled with the third national lockdown has presented a challenging start to the year for businesses who are desperate to start executing strategies to recover,” says Ian Tandy, head of international trade for HSBC UK. “The message from businesses is that government needs to continue to deliver trade deals with new markets to help firms reach their growth targets through 2021 and beyond.”
Almost half of UK exporters hurt by Brexit, says new survey
The YouGov/HSBC poll found that 42 per cent of exporters said the UK s exit from the EU s single market and customs union on 31 December had a negative impact on their business. (Getty Images)
Almost half of Britain’s exporters have been negatively affected by the end of the Brexit transition period on 1 January, according to a new survey.
The YouGov/HSBC poll found that 42 per cent of exporters said the UK’s exit from the EU’s single market and customs union on 31 December had a “negative impact” on their business.
Many UK companies report trade hassles from Brexit shift – HSBC
Feb 4, 2021 3:30 PM PHT
Reuters
Around 40% of British companies that import and export said the shift to a new trading arrangement with the European Union had made trade more cumbersome last month, a survey showed on Thursday, February 4.
The report from HSBC UK and polling firm YouGov showed 40% of importers and 42% of exporters reported a hit from the end of the Brexit transition period.
The findings are in line with other recent surveys that show the British companies struggled with supply chain issues last month, with the shift in trading arrangements exacerbating problems resulting from the COVID-19 pandemic.