Are UKTI trade services in danger?

image courtesy of UKTI

image courtesy of UKTI

If you are involved in export, chances are you have consulted UK Trade & Investment or made use of their resources. The UKTI is a non-ministerial government department which helps businesses, including many Web-Translations clients, export profitably.

UKTI works with UK based businesses to ensure their success in international markets through exports. We encourage and support overseas companies to look at the UK as the best place to set up or expand their business. – UKTI

While it may not come as a complete surprise, the Financial Times reports that UKTI may be subject to budget cuts as part of this year’s spending review. FT warns that the suspected downgrade is a result of the “overhaul of the way the government promotes exports” ordered by David Cameron.

On a positive note, it’s good to hear that the government still wants to help new exporters – George Osborne has committed to having 100,000 more UK companies exporting in 2020 than in 2010 and to reaching the target of £1tn in exports. Although we hope that the governmental changes don’t adversely affect those businesses supported by UKTI, we do look forward to seeing new incentives for exporters.