HSBC launches eight-point export manifesto
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Banking giant HSBC has recommended that the government adopts a series of policies to address challenges faced by British exporters.
HSBC makes eight recommendations including simplifying business visa processes and investigating export tax credits for SMEs alongside enhanced export credit guarantees.
The pro export measures came in the HSBC report: 'Equipped for success – A Manifesto for British Exports'
Other key recommendations include:
• Identifying major export opportunities, and support individual businesses to make joint bids
• Improving access to language training
• Trying to leverage brand Britain
• Establishing welcome centres overseas and in the UK
• Creating a single, authoritative source of advice and assistance for British exporters
Alan Keir, group managing director EMEA and chief executive of HSBC, said: "Britain's businesses are among the most innovative and imaginative in the world. But, in recent years these talents have failed to deliver significant export growth."
Keir added: "Achieving the Government's target of doubling exports to £1 trillion by 2020 will take considerable work by all parties, yet we know from talking to our customers that many businesses with massive export potential are still holding back from looking overseas."
Meanwhile, HSBC claims that UK business confidence is returning and the high-tech manufacturing sector is set to grow.
Over 60% of respondents to the bank's Trade Confidence Index survey expect trade volumes to rise over the next six months, up from 54% in the second half of 2012.
The findings come in HSBC latest Global Connections report.
The report also reveals that Europe will remain the largest consumer of UK exports in 2030 despite the increasing importance of emerging economies.
