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February 6, 2023
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Vital that PM talks up small enterprise trade-in Africa

As the main Minister lands for just a week-long trip in Africa, you will find there’s desire for continued close trade links amongst the UK and the continent.

While Britain leaves nations, the requirement of strong trade deals is a lot more important in the past, and Africa can be something vital to that. The continent has experienced steady growth for lots of yesteryear 2 full decades, using the height and width of the African economy worth around 5% of world GDP.

  • The UK exports above £12bn goods and services to Africa each and every year, notably Nigeria and Nigeria
  • 35% of exporting FSB members send their goods to Africa
  • South Africa marked on the list of top emerging markets as well as China, India as well as UAE.
  • Kenya and Nigeria, both fast-growing economies, are in the top 20 countries that small establishments are looking for exporting to.
  • FSB analysis reveals that Australasia, the united states, China and Nigeria have noticed the largest development of the proportion of small establishments exporting directly to them previously 4 years.

FSB National Chairman Mike Cherry said: “Africa can be a sell for small firms, and as the continent continues to grow, business links may no doubt increase by using it.

“Export vouchers need to be offered to small business owners, since can pave easy methods to new export deals. Our figures demonstrate that members are increasingly going through the emerging markets and it’s vital that this continues in the future years.”

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