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Do you own an SME with a turnover of under 25m and, critically, are you looking for funding to expand your markets overseas? Any ambition in this direction could translate into some serious help from the HSBC, who yesterday unveiled plans to make available a pot of £4bn to businesses trying to cash in on export trade in 2012. Technical Translations did a bit of digging to find out more about the money available and who qualifies for it.
The HSBC obviously wants to stake out a place for itself among the affairs of the world’s fastest growing economies and its International SME Fund hopes to enable businesses in the UK to take advantage of a predicted rise of 60% in international trade over the next 15 years. HSBC’s Global Connections trade forecast has already foretold of leaps and bounds in growth in international trade in the years ahead, with real progress beginning in 2014 and translating into an 86% increase in export-related business by the year 2026.
Alan Keir, Group MD of HSBC, commented: "Trading internationally will be critical for not only the British companies who want to remain competitive in the future, but it is also critical to the UK economy. HSBC is committed to increasing lending to UK SMEs in 2012."
Technical Translations welcome the expected increase in international trade as it is fundamental to both our and many of our clients’ success. We have been following progress reports for growth across a range of sectors and note that the manufacturing industry, and especially automobile production, which took such a hit in the recent recession, is now on the mend.
The HSBC also reported that British built jet engine components are set to boost sales to Singapore by 9% and we hear that UK-built cars are expected to reach a 15% annual export growth to China and 7% to Russia over the next five years. Things are definitely looking up.
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