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HSBC launches £4bn fund to lend to exporting SMEs
HSBC is to launch a £4bn fund that will lend to small and medium-sized businesses that trade internationally.
The aim is to capture the benefit of increasing global trade conducted by British SMEs with a turnover of up to £25m.
The bank also published research today forecasting that the UK’s international business activity will increase by 60 per cent in the next three years.
The report predicts that British companies will export increasingly to Vietnam and Brazil and will import more from Qatar.
The industries expected to see the most international growth are oil and gas, car manufacturing and biotech.