- FCA outlines the measures it will take to protect consumers and sets out when and how the organisation takes action
- OnDot/YouGov survey indicates that UK adults are ready for real-time interaction with their banks
- FSB publishes report to G20 Finance Ministers and Central Bank Governors on its work with standard-setting bodies on Crypto-assets
- Cryptocurrencies now “undeniably part of mainstream finance” says deVere Group CEO Green
- Goldman Sachs announces Blankfein retirement-Solomon to succeed as Chairman and CEO
- BlackFin largest independent FinTech fund in Europe after completing a E180m final closing
- Fenergo Client Lifecycle Management solutions selected for The FinTech50 2018. expired
- UK FinTech PayBreak secures additional £15m of funding with specialist banking group Paragon expired
- Danske Bank announces first half result and updates on Estonia investigation expired
- Moneysupermarket on track for first six months-introduces new mortgage FinTech Podium expired
- Arbuthnot reports strong first half expired
- Goldman Sachs post strongest first half return in nine years expired
10th July 2018
SMEs with Export Ambitions Deserve Financial Lifeline, says GIC Capital
Research shows that SMEs are sceptical about the opportunities they can access by reaching international markets despite the potential for success. With few SMEs keen to invest in exporting, GIC Capital argues that financial support is needed for those with international ambitions, paving the way for others to follow.
The research conducted by Bibby Financial Services discovered just 10% of SMEs planned to invest in their international trade in the short-term, with two thirds of businesses only buying and selling domestically.
Kennedy Zvenyika, Managing Director of GIC Capital, said, “The reluctance of SMEs to look at importing and exporting could mean they’re missing out on huge opportunities. Importing from across the British borders can prove more cost-effective, enhance quality, and strengthen supply chains. The exporting market can be just as lucrative for British businesses that do their research. Due to a high amount of regulation, British made goods are typically seen as high quality. More than a quarter of SMEs believed that their goods or services would not be suited to an international market but I believe it’s often a case of not exploring the right options.
“While, according to this research, just one in ten SMEs are planning to export internationally, it’s important to ensure they have access to the right finance. SMEs looking internationally have a lot of potential to see exponential growth, boost the economy, and show other British businesses that exporting can work for them. It’s an ambition we need to support.”
GIC Capital is a dedicated provider of SME finance, offering a range of solutions in order to match the diverse needs of the SME sector. With expert knowledge, the GIC Capital team re able to help SMEs identify the right type of credit for their ambitions, whether it’s international trade or investing in more staff, and improve their chance of securing the vital financial line. Traditionally, SMEs have struggled to access finance from high street lenders and GIC Capital aims to bridge that gap by connecting the UK’s small businesses with alternative lenders that see their potential.