PM pledges to help ‘small businesses go global’
Boris Johnson announced a shake-up of Government export finance on Monday 7th December 2020 as part of efforts to support small businesses looking to enter new markets after Brexit.
The new scheme, to be run by UK Export Finance, will see the state provide an 80% guarantee on bank loans of up to £25m to help companies with general exporting costs.
In a message to businesses posted on his LinkedIn page, the Prime Minister said: “This will free up crucial working capital to help you scale up your business operations and get exporting.” He added: “Small businesses are the lifeblood of our economy. As businesses bounce back from COVID-19, this new export finance guarantee will help bring new trading opportunities to companies in every part of the country.”
