Demand for overseas money transfer services may rise among small to medium-sized enterprises (SMEs) in the UK. Firms like this are being encouraged to export and in order to do this, they may need to move funds in this way.
Recently, UK Trade & Investment (UKTI) and Barclays teamed up to help small companies grow by offering export advice. As part of this, UKTI will host Export Week from November 12th to 16th. This will feature more than 100 events up and down the country and experts from 70 overseas markets will be on hand to provide bespoke advice about trading.
Meanwhile, according to Barclays, firms can generate an average growth of 30 per cent after exporting for just two years.
According to trade and investment minister Lord Green, the government is looking to encourage far more companies to sell their goods and services abroad.
He commented: “Boosting the UK’s export performance and supporting the growth of small and medium sized enterprises are key parts of our plan for growth that will help us secure a stronger, more balanced and resilient economy.
“The government wants to see a further 100,000 British businesses exporting by 2020 and is committed to helping businesses of all sizes take their products and services to new markets overseas. The new partnership… will play an important role in helping British products and services find new markets overseas. I look forward to seeing this joint venture deliver real results.”
Those enterprises that do opt to expand their horizons and target custom in other countries should now find it easy to source foreign money transfer services. As long as they succeed in choosing the most suitable provider for them, they should find the process to be straightforward and stress free. Getting this aspect of overseas trade right can be very important.