Thousands of smaller exporters to be given more support

A joint scheme has been announced involving UK Export Finance (UKEF) and the British Business Bank which will help small and medium-sized businesses access the finance they need to develop their exporting potential.

Chancellor Rachel Reeves said that the new scheme, which will be launched in spring 2027, will target support at the estimated thousands of SMEs with export ambitions that often struggle to secure finance.

It will, she said, bring together UKEF’s export finance specialism with the British Business Bank’s expertise in unlocking lending for smaller businesses in order to address a gap in finance for smaller business exporters.

The scheme will particularly aim at helping those seeking lower-value working capital loans, broadening opportunities for export growth for a wider range of businesses.

UKEF’s nationwide team of Export Finance Managers will work alongside the British Business Bank’s Local Growth Team to direct businesses to the right support, ensuring that the scheme reaches smaller businesses in every corner of the UK.

Tim Reid, UKEF CEO, said:

“One of our main business priorities is to make it easier than ever for SMEs to harness the power of international markets. By combining access to finance, digital services and targeted support with the British Business Bank’s expertise in unlocking lending, we can support a new generation of exporters.”