Foreign Investment in UK

Business, Innovation and Skills written question – answered on 13th September 2013.

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Photo of Nick de Bois Nick de Bois Conservative, Enfield North

To ask the Secretary of State for Business, Innovation and Skills how many small and medium-sized enterprise exporters in London contributed to the Trade Growth Value metric by reporting receipt of significant assistance from UK Trade and Investment during the last (a) 12 months and (b) two years.

Photo of Michael Fallon Michael Fallon The Minister of State, Department for Business, Innovation and Skills , Minister of State, Department of Energy and Climate Change

The Trade Growth Value metric is relatively new and still being embedded. It was designed to record cases where an enterprise has progressed in its pursuit of overseas business opportunities to the point of successfully winning contracts, whereas much of the assistance provided to exporters by UKTI team in London and in the English regions involves help at earlier stages in this export development process. As it often takes a considerable time before contracts are won, the number of enterprises reporting significant assistance and benefit from this support is measured through UKTI's independently administered Performance and Impact Monitoring Survey.

The latest PIMS figures (published in June 2013) show that in the previous four quarters 166 enterprises were supported through Passport, 148 through Gateway to Global Growth and 639 through other significant one to one assistance by the London International Trade Advisers. PIMS results published in June 2013 show that 85% of clients reported significant business benefit through the Passport to Export Programme, 75% through the Gateway to Global Growth Programme; and 44% through other Significant Assists. In addition, during FY2012/13 six London SMEs completed Trade Growth Value (TGV) forms totalling £14.3 million. Between 1 April 2013 and 31 August 2013, 13 TGV forms have been received with a value of £75.2 million.

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