Home Economy FSB voices concerns over £4.8 billion trade deficit
The government must make sure that the decision to refocus UK Trade and Investment’s (UKTI) role and make exports a priority across its departments provides the right kind of support for those looking to export.
That’s the message from the Federation of Small Businesses (FSB), which has voiced its concerns on the UK trade deficit for February which now stands at £4.8 billion.
Mike Cherry, FSB’s national chairman, said: “Since the start of this year, the trade deficit has widened significantly and this is of serious concern. Indeed, recent FSB research shows a worrying decline in export performance among small businesses.
“Small firms can make a significant contribution to the government’s target to increase the value of exports to £1 trillion and support 100,000 new exporters by 2020.
“But the government must ensure that the decision to refocus UKTI’s role and make exports a priority across government departments provides the right kind of support for those looking to export.”