Lloyds Bank has decide to support 5000 small and medium-sized companies export goods for the first time during 2016, and a total of 25,000 by the end of the decade, along with a £1bn boost to SME lending. According to the bank, the new initiative to help thousands of UK businesses become first- time exporters, is in an effort to reverse the country’s growing trade deficit. The drive is part of the UK government’s goal of kick-starting exports from 100,000 businesses by 2020. Lloyds’ network of export specialists will advise SMEs on the specific countries they want to trade with. It has also pledged to help expand 1000 start-ups in 2016 to become mature £1m businesses within three years.
