With CBI forecasts predicting that the UK will fall over £300 billion short of its 2020 exports target, action is needed to ‘move the dial’ on exports and – the North East can lead the way.
In its new report on exports, ‘Best in Class’, the CBI has called for action in six areas to turnaround the UK’s exports performance in a meaningful way.
Foremost, they recommend the creation of a National Exports Commission; this independent body would bring together businesses of all sizes – from multinationals to growing MSBs and first time exporters, as well as economists and a cross-party bench of politicians, to provide impartial advice to government on long-term export targets and the policies needed to deliver them.
Other key recommendations include the creation of a “one stop shop” of joined-up Government support and advice for exporters on a single, easily navigable website. 28% of medium-sized businesses (MSBs) – the UK’s prime potential exporters – are put off exporting because of the difficulty in identifying the right opportunities, so this new online platform could help the UK’s ‘forgotten army’ expand internationally.