According to the latest independent statistics, released by the ONS, UK exports rose 7.4% (£43.3 billion) to £625.4 billion to the end of April 2018 compared to the same time last year.
Exports continue to grow faster than imports for the tenth month continuously with the overall trade deficit narrowing by £6.7 billion from £37.5 billion to £30.8 billion.
With Brexit uncertainty looming large on the horizon, and the way in which we trade with the EU set to change in one way or another, the UK has been looking beyond the EU for trading partners. In the same statistics, exports beyond the EU amounted to, £342 billion and to the EU, £274billion.
Regency have seen an increase in our clients requesting guidance and support on exporting to both the EU and beyond. Most recently we have provided trade and invoice finance facilities to a client who designs and manufactures high end shoes. They have taken the step to export to department stores across the globe, such as Galeries Lafayette in Paris and David Jones and Myer in Australia. Our client felt that a global expansion was the best way to grow his business and felt that our whole of product cycle finance would assist him in this dream.
If you are a business owner looking for more information on our finance facilities, we’d love to be able to help. Why not give Regency a ring today on 0161 280 4220, drop us an email at lynnew@regencyfactors.com or browse our website for more details on how our facilities work