Small and medium-sized businesses (SMEs) disappointed by the lack of support in breaking into international markets may be pleased to learn there could be a light at the end of the tunnel.
The Confederation of British Industry (CBI) is unveiling a new package of measures to boost exports to help SMEs unlock overseas business opportunities.
CBI will urge the government to provide SMEs with tax breaks and export finance schemes to make entering foreign markets easier and more feasible.
John Cridland, CBI director-general, said: “Breaking into new markets can be a huge leap for small and medium firms, which is why we’re calling on the government to introduce a new tax credit to help them get a foothold internationally.”
With the rise of growing middle classes in countries such as China, Brazil and India, of course it would be great for SMEs to be given support so they can capitalise on this wealth.
Here’s hoping the government comes to its senses and realises that helping SMEs to break into these markets will in turn boost the UK economy.
Posted by the Secret Businessman