Peter Kyle Calls for Export Growth as Fewer UK SMEs Trade Internationally

Business Secretary Peter Kyle has urged small and medium-sized enterprises in the UK to embrace exporting more actively, saying there is strong global demand for British goods and services and that support is available to help firms take the step into overseas markets. Business figures show the proportion of UK companies that have ever exported has fallen in recent years, and Kyle told an audience of entrepreneurs at an international trade forum that reversing that trend is a priority for the government.

Kyle described a “great thirst for Britain” among international buyers, drawing on recent trade visits to markets such as China and Japan, and said exporting may seem intimidating but can offer significant growth opportunities. He acknowledged that first-time exporting is challenging but encouraged firms to view it as a necessary leap if they want to expand and grow.

To support this push, the government has helped broker an £11 billion lending and trade-finance package with the UK’s five largest banks. NatWest, HSBC UK, Barclays, Lloyds and Santander have agreed to make this finance available to smaller businesses to help them invest in international expansion and manage working capital when entering new markets. UK Export Finance (UKEF) will provide guarantees of up to 80% on eligible loans and advisory support to help firms navigate the complexity of exporting.

The scale of this joint banking commitment is one of the most significant collective moves by British lenders in recent years, signalling confidence in the growth prospects of UK enterprise and a shared focus on expanding export activity beyond domestic markets.

Industry groups have broadly welcomed the emphasis on exporting but stressed the need for clearer and more practical guidance. Representatives from SME organisations have said that while many small businesses are keen to explore overseas opportunities, they need simpler tools and better information to manage trade rules, documentation and market access, particularly in the post-Brexit environment.

UK Export Finance’s broader strategy also underscores growing support for SME exporters. According to its business plan, UKEF aims to help thousands of smaller firms access export finance and insurance over the coming years, making it easier for UK companies to pursue international contracts and compete globally.

Government officials argue that increasing SME participation in exporting could help strengthen the UK’s overall trade position, create jobs and foster resilience in regional economies. They point to ongoing efforts to simplify access to finance, improve awareness of available support and leverage new trade agreements as part of that drive.

Kyle’s message reflects a broader policy push to unlock export potential among smaller businesses and to encourage a culture of international trading across sectors. With global demand for British goods and services, government and industry leaders say the opportunity is there for ambitious SMEs ready to take the next step.