Five point plan to grow business overseas
Step 1: Government must set a high bar for export performance through a 2020 national exports strategy
Government to develop and implement a 2020 national exports strategy underpinned by key performance indicators, to be reviewed after five years:
• Net exports to swing from -2.4% in 2010 to 2.5% by 2016 with exports to rise from 29% of GDP in 2010 to 36% by 2016
• Proportion of SMEs exporting to rise from one in five to one in four by 2020
• Nominal exports to the BRIC economies to exceed 11% average annual growth in value terms by 2020
Government to introduce a single portal - www.exports.gov.uk - through which businesses can access all government export services with clear signposting to services offered in the private sector through trade associations and business advisory services.
Step 2: Government must provide the right policy framework to boost businesses' export capability
Government to introduce an 'export enabling test' for all new legislation to support growth and minimise unintended impacts on export capability
Government to use skills policy to help businesses remain innovative and internationally competitive by promoting the study of STEM and language subjects at school. There should be an automatic opt-in to triple science GCSE for highperforming pupils
Government to explore all sensible ideas to resolve the need for more UK hub airport capacity to help address the lack of capacity to develop new links with markets in high-growth economies. In addition, government to explore the scope for expansion of the UK's regional airports and support private-sector funded investment in ports development to drive economic growth.
Step 3: UKTI must inject greater commercial focus into its operations to better support UK business
Government to ensure greater commercial focus in UKTI by rebalancing its board and senior management team towards business appointments - with the aim of reaching a 50-50 split
CBI to benchmark the UK's commercial diplomacy offering against our main competitors to ensure UK business operates on a level playing field - delivering the results in 2012
CBI to help shape future trade missions by working more closely with UKTI, trade associations and other business groups to maximise business outcomes
CBI to establish a pilot scheme to co-host a trade mission to a high-growth market
Businesses on trade delegations to encourage their suppliers and domestic customers to participate.
Step 4: CBI will take the lead in supporting UK businesses entering new markets
CBI to help develop regional export clubs through its office network - with regional export champions acting as chair - to help firms share their knowledge and experience about how to internationalise their business strategy
CBI to celebrate export success of its members, showcase UK business abroad to dispel myths and publicise business export toolkits through the development of a CBI exports website.
Step 5: Business and government must work together to increase the availability of export finance
Government to increase the availability of export credit by diversifying the ways in which firms can access ECGD products
CBI to establish an export finance taskforce, bringing together financial institutions and SMEs to explore ways of removing blocks to export finance, reducing risk and the viability of introducing an export tax credit to incentivise exploratory export activity - delivering recommendations in 2012.