The Courier & Advertiser (Perth and Perthshire Edition)
Bank to support exporting under SME charter
The Bank of Scotland is to increase its support for first time exporters as part of pledges made under its new SME charter.
The new export pledge will see the group, which is part of Lloyds, support 5,000 firsttime UK exporters this year, and a total of 25,000 by 2020.
The bank is also committing to growing its lending to small businesses, helping start-ups and supporting small firms on their next phase of growth.
“The future success of the Scottish economy hinges on small businesses looking to overseas markets for growth,” Graham Blair, BOS’s Scottish regional director for SME banking, said.
“Through this new pledge, we want to support a new legion of Scottish exporters, and ultimately to help the Scottish economy to prosper.
“We have been working in partnership with UKTI for the past year, looking at ways to boost Scottish exports, and through this commitment we hope to contribute towards supporting new exporters.”
The group will invest £450 million in digital technology and training over the coming three years to support its charter commitment.
A key development will be the establishment of a new International Trade Portal, through which firms across the UK will be able to learn how to identify opportunities and operate across the globe.
The group will also provide specialist one-to-one support where required, with 300 staff having being trained in international trade matters.
“Successful exporting is no mean feat – and that is why we are investing in both on-theground expertise and digital technology, in order to ensure that businesses have the backing they need to succeed,” Mr Blair added.
Trade and investment minister, Lord Price, said: “It’s great to see the banks doing their bit to support small and medium sized businesses looking to invest and create jobs.
“By working together like this we can make sure British businesses up and down the country have the support they need to export their goods and services around the world, and that the UK remains a great trading nation.”