Lloyds finds 45% of internationally trading UK firms plan expansion into new markets
LYG•Lloyds research found that 45% of internationally active UK businesses plan to enter new markets over the next three years, while 84% say affordable trade finance is important to their plans.
1. Expansion and financing plans
International trade activity increased for 47% of firms over the past 12 months, while 12% reported a decline. Europe is the leading planned destination, with 45% expecting to increase trade there, compared with 26% targeting the US and Canada. Affordable trade finance is important to future plans for 84% of firms; 51% describe facilities as limited or expensive, and 24% report adequate access.
