Encouraging news pre and post budget signals a boost for our manufacturing exporters.


If you’re in the business of making things, pay close attention. If an overseas customer wants to buy the things you make, pay even closer attention!

Pre-empting the Chancellors 5th budget speech an article on the BBC Business website reported that UK manufacturers were enjoying a strong start to the year. According to their industry body, the EEF, they are also looking forward with confidence. On top of that there was a strong signal from the 332 businesses taking part in the survey that export orders were significantly up on the previous quarter.

A plea to No 11

In the same report the chief economist of the EEF put down a challenge to Mr Osborne suggesting now is the time for measures to be put in place to give confidence to this important sector. And as if by magic, he got some!

In order to make UK exporters more competitive the budget speech unveiled a plan to double the available funding via the UK Export Finance direct lending programme to £3bn. Furthermore interest rates would be cut to the “lowest permitted levels”.

On the home front manufacturers can look forward to future cost reductions based on the chancellors energy bill package.

Big picture, small picture?

Neither of these initiatives should be sniffed at in the overall scheme of the wider UK economy. There are however more pressing matters often linked to a sudden upsurge in orders especially if they are coming from over the water. Luckily there is plenty of support available that comes without Westminster red tape.

My invoice lies over the ocean

Selling to another country with different business customs let alone another currency is often enough to put some companies off exporting. Add to that the perceived nightmare of coaxing the cash from a recalcitrant debtor a long way from home and the reluctance is perhaps understandable.

Help is at hand though. Many invoice finance providers are well equipped to make the whole process of exporting a lot easier and safer. As well as providing vital cashflow against their invoices, businesses can also benefit from bad debt protection along with a local collection presence or multi-lingual credit control function.

Oiling the machine

By speaking to the right people it is possible to secure the funding and assistance to cover all aspects of the process including financing the machinery that actually makes the product. So don’t worry about ramping up production, and embrace the export opportunities. With the right advice it’s not as scary as you think.

By Stephen Leeves