Firms urged to look for international trade opportunities to spark growth

Wednesday 10th of June 2020 10:52 AM

Companies in Coventry and Warwickshire are being urged to identify opportunities to trade overseas to help support their growth out of the Coronavirus downturn.

It is widely forecast that the GDP figures for the second quarter of 2020 will confirm that the UK has entered a deep recession due to the outbreak of Coronavirus, which has seen unprecedented measures in place for three months.

The Coventry and Warwickshire Chamber of Commerce has been supporting businesses through the crisis and will be assisting firms across the region as the economy begins to restart.

And the Chamber is calling on companies to explore overseas opportunities as a way of securing new business and driving up growth.

The British Chambers of Commerce is supporting the UK-China Business Week 2020, organised by China-Britain Business Council, which is taking place online between June 15 and June 19, and will explore trade opportunities between the two countries.

It comes as the Chamber saw a rise in the number export documents its International Trade Hub team assisted with over the past week, which equated to more than £3 million worth of sales from businesses in the region to non-EU countries.

Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce, said: “Many businesses have begun the process of restarting and returning to their workplaces under the new guidance which has been set out in order to mitigate any spread of the virus.

“For three months now the vast majority of companies have been in survival mode by simply ensuring they have the cashflow to try to get through the crisis.

“As we look to get the economy growing again, we will of course want to secure local trade and seeing businesses in the region working with one another and the Chamber will support that, as we always do, by connecting companies in our region.

“But we also have to ensure that we maintain our global outlook and get as many businesses as possible exporting their goods and services into markets all over the world.

“Our International Trade Hub has a wealth of experience and expertise in offering support for business when it comes to overseas trade, and that’s highlighted by the successful export documentation service on offer.

“In normal circumstances, the team would be organising and supporting face to face meetings to help facilitate overseas trade but UK-China Business Week is an example of how that support can still take place online due to the current climate around Covid-19.

“We’d encourage companies to see how they can get involved in the week but also look at how they can begin or increase international trade in the weeks and months ahead.”

The full programme for UK-China Business Week 2020 is available at http://www.cbbc.org/events/other-events/ukchinabusinessweek2020/ukchinabusinessweek2020programme/

Caption: Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce