NatWest has announced plans to help at least 15,000 UK businesses export their goods or enter overseas markets by 2020.
Working with UK Export Finance (UKEF), the bank aims to provide export finance to help companies secure £2.5 billion of overseas contracts within the next four years.
Alison Rose, CEO of Commercial and Private Banking at NatWest, said: “When companies are ready, doing business overseas can have huge benefits. Businesses only trading in Britain limit their revenue potential to the UK, but each new overseas market represents a new possible source of income.”
She said that the bank will make it easier to trade overseas by developing online tools and more simplified products through digital transformation programme.
It will also work with UK Trade and Investment (UKTI) and other partners to drive UK exports, delivering regional workshops for businesses across the UK and showing firms the specific growth opportunities available to them.
NatWest will also work closely with UKTI and UKEF to make it easier for businesses to apply for schemes and to secure funding for exporting.
Lord Price, Minister of State for Trade and Investment, welcomed the news saying: “The Government and the banking sector share a joint aim – to help budding exporters realise their dreams of building a global business. By teaming up in this way, I hope we can inspire more British companies to take advantage of the world of opportunity out there and to make the most of the worldwide demand for their products, skills and expertise.”
