Regional business representatives spoke on the export potential of businesses in the North East, as well as the challenges they faced, at the Institute of Export & International Trade’s (IOE&IT) inaugural regional event, held in Newcastle yesterday (16 May).
Hosted in the Common Room at Neville Hall, the event was part of IOE&IT’s efforts to boost the trade ambitions of the UK’s nations and regions, addressing the trade opportunities and challenges for North Eastern businesses.
Hosted by IOE&IT manufacturing lead Paul Brooks, a mix of government advisers and North Eastern businesses were in attendance.
‘Hear directly’
Brooks, also IOE&IT lead for UK nations and regions, said:
“We’re running these events to hear directly from our members about their challenges and concerns. This will shape IOE&IT’s support and services in the future, and we will also feedback member concerns to government and other key industry stakeholders.
“It’s very appropriate that we are here today in Newcastle, in the heart of the North East, to talk about international trade, as this city and region built its reputation on trade.”
In a fireside chat with IOE&IT customs expert Suzanne Alecrim, RTC North trade adviser and IOE&IT member, Lesley Hawke, spoke of the benefits of trade to the North East and how local businesses were already selling abroad:
“The region has moved on post-covid: there’s an appetite to trade internationally that’s almost naturally bred in the region.”
Post-covid, Hawke said that North Eastern businesses “almost have to” trade internationally as part of “spreading the risk” in their business model.
Barriers
“There are a lot of exporters that don’t seek advice,” she said, when describing some of the challenges faced by firms.
She noted that roles like international trade advisers are no longer embedded in the region and in the business community, with the Department for Business and Trade (DBT) shedding many of those positions.
“Businesses are confused as to what route to take,” she said, adding that there needed to be “very clear signposting for support” to help businesses in Teesside, Tyneside and Wearside.
“People want to speak to people. SMEs don’t take the decision to trade overseas lightly: sending them to see a website is not going to fill them with glee.
“This region has a huge appetite to trade overseas, they just need the right guidance.”
Roundtable
At a round-table discussion, representatives from government met with business and financial figures to discuss some of the challenges that Hawke raised, including some of the problems with accessing finance and how the funding gap between Northern and Southern businesses could be filled.
After the event, Paul Brooks led a contingent of IOE&IT members to a round-table with the Bank of England, where they met with senior representatives to share their views.