The London Chamber of Commerce and Industry (LCCI) is supportive of the Government’s intention to rebalance the economy after the recent downturn by placing an increasing emphasis on enabling an ‘export-led recovery’. However, our research has identified a number of policy barriers, which are discouraging London businesses – particularly SMEs – from exporting to important global markets.
Today, at a launch event with the Business Secretary Dr Vince Cable MP, LCCI published a new report, Exporting Britain: trading our way back to growth, which highlights the factors that are having a direct impact on businesses’ ability to export. It is based on the findings of a recent survey of London businesses, trade mission questionnaires and in-depth interviews with senior industry and commerce figures with experience of international trade.
The report highlights the benefits of trade missions to London firms and lists a number of key recommendations that should be implemented to help businesses realise their export ambitions. Specifically, it includes calls for:
- A national exports and growth strategy to coordinate relevant Government departmental policies and outline the role that business organisations and private companies could play in creating greater exporting activity
- Greater efforts by Government and UK Trade & Investment to work closer with private sector partner organisations to encourage greater take-up of exporting opportunities through trade missions and increase awareness of finance available to firms wishing to export
- Reform of the UK visa regime to ensure immigration policies do not unnecessarily obstruct businesses’ ability to trade globally and to hire specialist skills needed to compete and grow internationally
- A clear long-term vision for aviation that will enable the opening of routes to key emerging markets with untapped export opportunities, and policies that will make best use of London airports’ existing runway capacity in the short-to-medium term
To read the full report click here.