Tag: Business and Trade Department

The press release issued by the Department for Business and Trade on 6 October 2023.

Statement follows the seventh meeting of the UK – U.S. SME Dialogues in Indio, California.

On 5 October 2023, the 7th UK – U.S. SME Dialogue was held in Indio, California with over 70 UK and U.S. small and medium sized businesses and business organisations participating.

The Dialogue was hosted by the Cabazon Band of Cahuilla Indians, and is convened by the Office of the United States Trade Representative, the Department of Commerce, and the Small Business Administration with the Department for Business and Trade.

Since its inception in 2018, the UK – U.S. SME Dialogue has continued to bring together small and medium sized businesses on both sides of the Atlantic with UK and U.S. government representatives to explore the challenges and opportunities faced by SMEs looking to export across the Atlantic. SMEs are the backbone of the UK-U.S. trading relationship, and the Dialogue reflects the ongoing commitment from both countries to supporting and enhancing UK – U.S. SME trade.

During the Dialogue, a series of panel discussions covered opportunities for SMEs looking to grow through UK – U.S. trade. Attendees discussed the opportunities for SMEs in services trade and opportunities in the green technology sector that can contribute to energy and climate solutions. SMEs also raised their concerns about the barriers they face in exporting and importing, including access to SME finance.

A key focus of the Dialogue was how the UK and U.S. governments can support small businesses, including those owned by under-represented groups and women entrepreneurs, and those in disadvantaged communities, to take advantage of export resources. During the Dialogue, and following a commitment made at the 6th SME Dialogue 2022 held in Edinburgh, the UK announced the launch of updated resources that provide advice and support for SMEs wanting to export to the U.S.

• Doing Business Toolkit: This toolkit contains advice, Top Tips and resources for SMEs looking to grow their business in the UK and export to exciting markets such as the U.S.
• E-Commerce Toolkit: Advice for UK SMEs selling online to the U.S.

The press release issued by the Department for Business and Trade on 2 October 2023.

Review set up to cut burdens for businesses in new post-Brexit regulatory framework and improve customer outcomes.

• Cut burdens for businesses in new post-Brexit regulatory framework and improve customer outcomes
• Seeking to establish what works well, what needs improving and boost performance
• Around 90 regulators in the UK covering most sectors cost around £5 billion a year

The UK Government is today announcing an in-depth review into all regulators across the country. The 12 week call for evidence will seek to capitalise on our post-Brexit freedoms to bring about Smarter Regulation to the economy. The review will seek to ensure regulators are working efficiently and delivering on reforms needed to help grow the economy and protect consumers.

The 12 week call for evidence will seek views of businesses, consumers and regulators to establish areas that are working well as well as where regulators could improve. It comes as part of the wider Smarter Regulation Programme, which aims to bring about more effective and less burdensome regulations across the economy.

There are 90 regulators in the UK, and 39 per cent of small businesses say red tape holds them back. This review will identify the changes to the regulatory landscape that will really make a difference to economic growth, as well as improving the outcomes for consumers and our environment.

Businesses have made clear that burdensome regulations have hampered growth, which is why we are taking this action – the UK government is firmly backing business.

Kemi Badenoch, Secretary of State for Business and Trade, said:

“I want us to use our Brexit freedoms to scrap unnecessary regulations that hold back firms and hamper growth. It’s clear that the regulators that enforce the rules can also sometimes be a blocker to businesses, so our review will seek to root out the bad practices with the aim of making companies’ lives easier and reducing costs for consumers.”

The principal focus of this call for evidence is to understand what works well and what could be improved in how regulators operate to deliver for the sectors they serve.

It seeks views on regulatory agility; proportionality; predictability and consistency of approach. It will also consider whether there are any further steps we can take to reform the existing stock of regulation on the UK Statute book (both Retained EU Law and wider regulations).

Regulators play a crucial role in protecting consumers rights,  workers’ rights and the environment which is why no reforms will come at the expense of the UK’s already high standards.

It comes as many businesses, consumer groups and other industry leaders have expressed their concern over the operation and enforcement of regulation by independent regulators. Broadly, these criticisms fall into three categories:

• The regulatory landscape is a crowded space, with too many regulators having too many duties to trade-off against each other meaning consistency across regulators and a clear direction on what good looks like is essential.
• Regulator behaviour, risk appetite and overall performance is not as it should be. Businesses/industry groups argue that regulators are overly risk averse and focus too heavily on process, and that this is at the expense of delivering the best outcomes.
• Regulator powers and accountability have not moved in tandem, in part because of the increased decision-making power of some regulators now that decisions are taken at a UK- (not EU-) level.

This work is complementary to existing work in train, including the more specific review of Ofgem, Ofwat and Ofcom – which also forms part of the Smarter Regulation Programme.

This is the next step in the government’s programme of Smarter Regulation and deregulation. We have already launched a series of consultations and reviews into the growth duty for larger regulators, the UK’s product safety review and fire safety for domestic appliances – these have all been aimed at improving safety, cutting business burdens and improving regulations for the economy.

Across the UK, there are 90 regulators, and 39 per cent of small businesses say red tape holds them back. Which is why this review will work to identify the changes to the regulatory landscape that will really make a difference to economic growth, as well as improving the outcomes for consumers and our environment.

The findings will help to improve regulators right across government to ensure they are more accountable, effective and responsive to the needs of the sectors they represent.

The press release issued by the Department for Business and Trade on 2 October 2023.

Government announces measures to tackle late payment of invoices to support small businesses and grow the economy.

The press release issued by the Department for Business and Trade on 2 October 2023.

The Department for Business and Trade (DBT) launches the UK Battery Strategy Taskforce made up of leaders from academia and industry.

The press release issued by the Department for Business and Trade on 29 September 2023.

Revised figures from the Office for National Statistics indicates that the UK’s total exports in 2022 were worth £834 billion, up from £815 billion.

Exports Minister Malcolm Offord has praised the UK’s ‘world-class’ exporters as new data from the Office for National Statistics (ONS) released today (29 September) shows UK exports performed even better than previously thought.

The figures reveal that the UK’s total exports in 2022 were worth a huge £834 billion, putting the UK well on the way to hitting its target of £1 trillion of exports a year by the end of the decade.

2022 was a record year for the UK’s services exports in particular as they topped £400 billion for the first time, and new ONS data estimates they were worth £411 billion in total last year – £10 billion higher than the original estimation of £401 billion.

The ONS have said this is due to more data becoming available and more accurate methodologies being used to calculate export values – particularly for education services exports.

Minister for Exports Lord Offord said:

This is fantastic news and shows our world-class exporting businesses are doing even better than first thought and selling more of the goods and services to the world.

The UK is a services superpower, hitting over £400 billion in exports for the first time last year, but we want to see even more businesses exporting, so we can hit our ambitious target of £1 trillion of exports a year by 2030.

We’re backing British business by knocking down trade barriers, signing new trade deals, giving expert advice via our Export Support Service and funding through UK Export Finance – our award-winning export credit agency.

Marco Forgione, Director General of the Institute of Export & International Trade said:

It’s positive to see improvements across a range of exports within both trade in goods and services.

The Institute of Export & International Trade’s recent report ‘Global horizons: realising the services exports potential of UK nations and regions’ demonstrates why we are a services powerhouse. It’s vital that we maintain our global advantage as an exporter of services and one of the key recommendations of our report was creating regional sector specialisations – which, if implemented, will improve regional outputs.

We have a clear pathway to continue this success and by focusing on our nations and regions we can work together with businesses to reap the benefits of entering new markets.

The ONS has today published an article setting out a detailed assessment of its changes to the export stats, available online on its website.

The press release issued by the Department for Business and Trade on 29 September 2023.

UK notification denying the advantages of Part III of the Energy Charter Treaty to the specified categories of investors of the Russian Federation.

The UK has taken the decision to exercise its right via notification to deny the benefits of the investment protection provisions within the Energy Charter Treaty to sanctioned Russian investors and Russian mailbox investors to ensure those investors cannot benefit from the treaty’s investment protection provisions.

Russia is not a Contracting Party to the Energy Charter Treaty. However, Russian owned or controlled investments that are structured through Contracting Parties could in some cases claim coverage under the Treaty and benefit from its investment protection provisions. This notification makes clear that those investors are not entitled to the benefits of those provisions, with respect to any investments made in the UK’s energy sector, where they are a sanctioned investor or a mailbox investor.

The United Kingdom hereby:

(i) denies, pursuant to Article 17 (1) of the Energy Charter Treaty (the “Treaty”), the advantages of Part III of the Treaty to all legal entities owned or controlled by any citizen(s) or national(s) of the Russian Federation where those entities have no substantial business activities in the Area of the Contracting Party in which they are organised; and

(ii) denies, pursuant to Article 17 (2) of the Treaty, the advantages of Part III of the Treaty to all Investments of Investors who:

• are Investors of the Russian Federation (within the meaning of Article 1.7 (b) of the Treaty); and
• are included in the UK Sanctions List (https://www.gov.uk/government/publications/the-uk-sanctions-list), as that list may be amended from time to time, or in any list issued in replacement thereof, or who are otherwise subject to any sanctions regime imposed or administered by the United Kingdom from time to time.

The press release issued by the Department for Business and Trade on 27 September 2023.

UK Government’s Department for Business and Trade announces the introduction of DBT International Trade Advisors (ITAs) to Scotland.

• UK Government’s Department for Business and Trade announces the introduction of DBT International Trade Advisors (ITAs) to Scotland.
• Once introduced a further 600-900 businesses are expected to benefit from one-to-one advice and guidance on how to start exporting.
• The new roles will double the number of the Department’s trade and investment staff in Scotland.

The Department for Business and Trade (DBT) will significantly expand the support on offer to Scottish businesses after it announced that new DBT International Trade Advisors are to be hired north of the border.

Once in place, the new Advisors will be responsible for providing tailored, one-to-one guidance and support to Scottish businesses to help them start or expand their exporting journey.

The new resource is intended to complement existing services by expanding the pipeline of exporting companies and should see a further 600-900 companies in Scotland receive help.

Exports Minister Lord Offord was in Greenock today at the former Customs House to begin stakeholder engagement on the structure of the ITA support. While there he hosted a roundtable with SMEs about their exporting journey so far, and discussed how more companies might be encouraged to export using such support.

UK Government Minister for Scotland and Exports Lord Malcolm Offord said:

“This is a significant investment by the UK Government to provide further support to businesses across Scotland.

“Working closely with colleagues at SDI and the Scottish Government, this should significantly increase the capacity of our team to support increased exporting through expanding the pipeline of companies.

“We know what a huge difference accessing international markets can make to a company, and I’m looking forward to continuing the discussions that were started today to ensure as many businesses as possible take advantage of the opportunities that are out there.”

DBT officials have worked closely with Scottish Government and Scottish Development International officials in shaping the proposals, which are now subject to an eight-week public engagement exercise.

The engagement exercise is aimed at ensuring the new resource is implemented in a way that meets the needs of Scottish businesses and is complementary to services already offered by SDI and others.

The new DBT ITAs will sit alongside other UK Government support services such as the UK Export Academy which offers free training to businesses on selling abroad, and UK Export Finance who can provide attractive financing terms and working capital loans to companies.

The introduction of International Trade Advisors is a significant step in supporting the Department’s goal to reach £1 trillion worth of exports annually by 2030. Boosting the number of exporters in Scotland will be crucial in reaching this target, with survey responses showing there were around 14,800 Scottish companies exporting goods or services in 2021.

Research into the benefits of exporting have shown it to be essential in helping businesses to grow, with those that do trade abroad often having increased productivity, and offering higher wages to their staff.

The press release issued by the Department for Business and Trade on 25 September 2023.

The first ever fully digitalised goods shipment landed in Singapore from Burnley.

The press release issued by the Department for Business and Trade on 20 September 2023.

Brand new Board of Trade includes CEOs from leading food and drink, education and creative industry companies.

The press release issued by the Department for Business and Trade on 20 September 2023.

British holidaymakers could benefit from greater choice, and more competitive prices thanks to a review of travel regulations that cut red tape for travel operators.

• 12-week consultation launched to make UK-based domestic package travel rules clear and effective
• New rules could cut red tape for businesses and help grow the economy
• Consultation to ensure the effective protection of consumer rights alongside bespoke package travel protections

British holidaymakers could benefit from greater choice, and more competitive prices thanks to a review of travel regulations that cut red tape for travel operators.

The Government has today [Wednesday 20th September] launched a consultation to ensure consumer protection rules for package holidays within the domestic UK market are fit for purpose for both businesses and consumers. This comes as part of a wider set of reforms aimed at bringing in Smarter Regulations for businesses.

The consultation will seek feedback from the domestic travel and tourism sector on how new rules could best suit British needs to help drive growth, support businesses and offer cost-effective options to consumers. Voices across the industry will be invited to provide insights and feedback, including businesses like tour operators and travel agents, regulators and consumer advocacy groups.

The consultation will look at areas including whether the same set of regulations for international holidays are needed for UK-based package holidays, as well as making current rules more proportionate to businesses including where current industry groups say they are dissuaded from offering package style arrangements because of disproportionate regulatory burdens.

They will consider how package travel rules could be simplified and unnecessary burdens could be lifted with the result that businesses offer more choice, at competitive prices, to consumers.

Improved regulations in this industry will ensure businesses are supported and aren’t held down by unnecessary regulatory burdens, and consumers will better understand what rights they have when booking a package holiday.

This consultation comes as the travel industry recovers from the pandemic, offering an opportunity to reflect on where improvements could be made to unlock growth and deliver better outcomes for customers, including in unforeseen circumstances or in the face of significant disruption.

Business Minister Kevin Hollinrake said:

“Our domestic travel industry is crucial to our economy, but many holiday companies are faced with often over-burdensome regulations that make it difficult for them to grow and thrive.

“Today’s consultation is a major step to cutting red tape, which could benefit millions of British holidaymakers and give the sector a much-needed boost for the future.”

The Government is committed to ensuring high standards of consumer protection and we have introduced the Digital Markets, Competition and Consumers Bill to Parliament to strengthen these protections in the UK.

Notes to Editors

• A 12-week consultation begins today which will conclude in December
• The consultation looks at whether reforming domestic package holidays would unlock opportunities for the UK tourism sector to offer new and cheaper options to holidaymakers and in recognition of the unique challenges consumers can face when things go wrong overseas.
• The consultation identifies areas where business could have greater freedom in how they secure consumer protections and where the regime could be simplified so businesses are better able to meet requirements and consumers are clear about their rights. This includes seeking to understand lessons learned from how the regime operated over the pandemic and what would best support business and consumers to deal with significant unforeseeable disruption in the future.
• Smarter regulation is about improving regulation across the board, ensuring it is as clear as possible and only used where necessary and proportionate.  The Government is committed to taking action to reduce the burdens on business; reduce the cost of living and deliver choice to consumers.
• Whilst ATOL is not a key announcement today, the consultation document does reference the ongoing work by the Department for Transport (DfT) and the Civil Aviation Authority (CAA) to reform the ATOL scheme. It also identifies that DfT is also reviewing the enforcement options available to the CAA to ensure that they have the right tools for the purposes of maintaining compliance with the ATOL scheme.