Let’s show the world what UK family businesses can do
for Business and Trade is working hand-in-hand with organisations like Family Business UK to ensure firms have the tools and knowledge they need to seize these opportunities. We’ve published over 140 practical guides to help businesses understand and use our new trade agreements including CPTPP and, in time, the UK–India FTA. And, as we strike further agreements, from the Gulf Cooperation Council to South Korea, we will be helping family businesses find their next export opportunity. Our Small Business Plan sets out a bold ambition: accelerating SME growth by just one percentage point could add £320 billion to the UK economy by 2030. That’s the size of the prize and family businesses are key to unlocking it. With government support, new trade deals and a world of opportunity waiting, there’s never been a better time to export. Let’s show the world what UK family businesses can do – today and for generations to come. “So, my message to family firms is simple: don’t just think big, think global.”
Small Business Plan, which together form the foundation of our Plan for Change. It is through these strategies that we are putting in place the policies, support, and services needed to drive export-led growth. Exports are vital to delivering the government’s mission of sustained economic growth, increased productivity and prosperity, and the creation of good jobs right across the UK. For the first time, we have integrated support for small- and medium-sized enterprises in a single, accessible place – the Business Growth Service – designed to help businesses across the UK start, scale and succeed globally. It offers support from tailored market advice to free Export Academy training, access to UK Export Finance and support from our global network of trade advisors. It’s all available at www.business.gov.uk. We’re also backing businesses through our trade agreements. These deals are more than just paperwork – they’re tools for growth. Take the UK– India Free Trade Agreement, signed earlier this year. It’s the most comprehensive deal India has ever signed, and the most economically significant bilateral agreement the UK has struck since leaving the EU. It’s forecast to increase bilateral trade by £25.5 billion, boost UK GDP by £4.8 billion and raise wages by £2.2 billion annually. Tariff cuts worth over £400 million will kick in immediately, doubling to £900 million over the next decade. But these gains won’t realise themselves. Government and industry must work together to turn paper into pounds. That’s why the Department
Sir Chris Bryant MP Minister for Trade
There’s hardly a business in the world that didn’t start as a family business and there’s not a town in Britain that doesn’t rely on its family businesses. They embody the values of resilience, innovation and sustainability. They exemplify the best of British. These businesses don’t just pass down ownership through generations – they pass down ambition. And nowhere is that ambition more evident than in their approach to exporting. “We know it is the businesses that export that grow faster– often twice the rate of those who don’t. Yet only around 10% of UK businesses export. That’s a missed opportunity and one this government is determined to change.” That’s why I was delighted to see this year’s theme for Family Business Week focus on growing through exporting. It’s a theme that aligns perfectly with our Trade Strategy and
FBUK Issue 5 20
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