UK Export Finance (UKEF) has announced new measures to support small businesses across the UK in expanding their global trade operations, delivering on key commitments set out in the government’s new Trade Strategy.
As the government’s export credit agency, UKEF is enhancing its suite of trade finance and insurance products to make international trade more accessible, efficient and secure – particularly for smaller businesses.
Among the key announcements today:
• The Small Exporter Builder: A new export insurance option designed specifically to help smaller firms manage risk when trading overseas, offering financial protection and confidence in uncertain markets.
• Repeat Order Guarantee: This streamlined product allows international buyers to place repeat orders with trusted UK suppliers without needing to go through the full application process each time. By cutting red tape and providing greater certainty, the move aims to improve cash flow, boost supplier planning, and strengthen UK-based supply chains.
The initiatives come as part of a wider push by the Department for Business and Trade to simplify trade for UK companies, particularly in the high-growth sectors identified in the government’s Plan for Change.
Trade Minister Douglas Alexander said: “This new, hard-headed, data-driven and agile trade approach reflects our pragmatic patriotism. In a changed and challenging world, we must promote what we can and protect what we must to secure Britain’s national interest.
Through our new Trade Strategy, we are giving businesses more tools to expand, export and thrive – with UKEF playing a central role in helping exporters win orders, create jobs and secure payment.”
UKEF CEO Tim Reid added: “We’re focused on delivering measurable impact for UK businesses, putting their needs at the core of what we do.
Our updated insurance product and the new Repeat Order Guarantee will give more exporters the confidence and capacity to grow globally. We are simplifying access to vital support and backing long-term export growth.”
UKEF’s expanded product portfolio is underpinned by a wider remit, with the agency now authorised to provide up to £80 billion of support to UK exporters. The upcoming 2024/25 Annual Report and Accounts, expected shortly, will showcase further results of UKEF’s efforts.
In 2023/24, UKEF provided over £8.8 billion in support to 650 businesses, safeguarding up to 41,000 jobs across the UK and contributing up to £3.3 billion to the national economy.
With the new export tools, UKEF aims to unlock even more opportunities for UK firms to grow their presence in overseas markets, ensuring the UK remains globally competitive in sectors such as clean energy, life sciences, defence, digital and advanced manufacturing.
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UK Export Finance unveils new tools to boost SME global trade