Record number of UK businesses seeking export opportunities

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A record number of UK businesses are looking to export, according to a new government report.

UK businesses are looking into opportunities to export in record numbers, according to a new report from UK Trade & Investment (UKTI).

Figures released by the government body have shown that more than 20,000 applications have been received from UK businesses through the government's Exporting is GREAT website, a database of government-brokered export opportunities.

More than 6,000 export offers and opportunities have been showcased through this service since November 2015, the equivalent of 40 new opportunities per day. The listings have been generated from 109 countries and 44 different sectors.

The government has released this data to coincide with Exporting is GREAT Week, which runs from April 18th to 22nd, and will see around 90 events take place across the UK to encourage more companies to explore international trade opportunities for the first time.

According to UKTI, more and more British businesses are realising the benefits of tapping into overseas markets, with new exporters making up nearly one-fifth of UKTI customers at present.

Lord Price, the UK's trade and investment minister, said: "We have a proud history as a trading nation. The development of digital technology has the potential to give even the smallest company a global reach and access to attractive new markets.

"This government is committed to supporting 100,000 more UK businesses to export by 2020." 

Other key resources aimed at helping British exporters include UK Export Finance, the national export credit agency, which provides advice and guidance. Over the past five years, it has provided more than £17 billion (€21.49 billion) worth of support to British businesses.