The government agency that is making a positive difference through inclusive trade

UK Export Finance is accelerating its support for UK exporters and empowering businesses from underrepresented communities

Exporting increases business resilience, encourages innovation and strengthens long-term growth. But these rewards aren’t achieved without risk, not to mention a few hurdles along the way. And for business leaders from underrepresented communities, the barriers to success can be that much higher. UK Export Finance (UKEF), the UK government’s export credit agency, is working hard to change that.

Financing is a major issue – just 48% of ethnic minority SMEs [pdf] are made an offer by lenders compared with 78% of SMEs overall. But a lack of trust, supportive networks, and industry contacts can prove tricky too. UKEF supports businesses large and small to realise their export ambitions through connections to financing partners, insurance to de-risk overseas market entry, access to working capital, and expert guidance to demystify export finance. UKEF also delivers engagement and outreach initiatives, including events focused on supporting ethnic minority businesses.

UKEF Chief Executive Tim Reid says that the organisation is determined to work with as many UK businesses as possible – which is a major driver behind the work it is doing to help ethnic minority-led businesses. It has already supported more businesses than ever in 2025, but now there’s a specific number in mind – 1,000 SMEs per year before 2029.

One of the many ways UKEF supports small businesses is by enabling them to benefit from its partnerships with banking heavyweights as well as with smaller lenders and non-banking financial institutions “We’ve worked with the UK’s five biggest banks on an £11bn package to support small businesses to grow their international trade,” says Reid.

Targeted support to overcome barriers
A central tenet of UKEF’s approach is “inclusive trade”, as set out in its 2024-2029 business plan, to support smaller SMEs that face higher barriers in accessing finance. Key among those are women and ethnic minority-led businesses.

As Reid notes: “Small businesses can really be the growth engine of the economy.” Ethnic minority-led small businesses are a vital part of that. One estimate indicates that ethnic minority entrepreneurs contribute £25bn [pdf] to the UK’s gross value added (GVA) – the value that producers add to the goods and services they buy. As well as GVA, supporting small businesses to export leads to job creation and a positive impact for the wider community.

Export finance can be a significant stumbling block for ethnic minority-led businesses – and UKEF is aware of this. “Our starting position is that no viable export should fail because of not having the right financing or insurance in place. It’s why it’s crucial for us to find ways to support businesses and owners who may experience higher barriers to finance. We know that’s true with ethnic minority-led businesses.”

A prime example of this is Black-owned aircraft trading and refurbishment business 3Top Aviation. Reid explains: “We provided a £20m loan guarantee, which is allowing them to expand into new markets.” As a result, 3Top is set to grow its UK workforce by 20% and move part of its business back to the UK from France and the US.

“It brings real benefits to the UK economy,” says Reid. Another example is Tilz Prosperitas, founded by businesswoman Tayo Adebisi. Here, UKEF connected Adebisi to a secure trade loan partner, Dynamic Funding, enabling Tilz Prosperitas to meet increased export demand and scale up its Leeds-based operation.

Turning net zero ambition into opportunity
Alongside inclusive trade, UKEF is committed to making a positive difference through net zero trade.

In practice that includes support for clean growth, which is why UKEF has set out an ambitious green agenda [pdf]. UKEF is clear on the business opportunities of net zero and is working to position a diverse range of UK exporters and suppliers at the heart of the global low-carbon transition.

This is in addition to providing finance for low and middle-income countries – “the UK’s key trading partners of tomorrow”, says Reid – to create a positive impact for communities both globally and domestically. Collaboration is key to this by, for instance, partnering with export credit agencies from around the world to create the Net-Zero Export Credit Agencies Alliance.

Unlocking new pathways to growth
For UK exporters, UKEF offers a range of products to suit the differing needs of businesses of all sizes. Take its Small Export Builder, for example. It allows businesses to increase their credit insurance limit incrementally from an initial credit limit of up to £25,000, up to a maximum credit limit of £100,000 as they develop a positive history with overseas buyers.

Having a range of products comes in handy as UK exporters look to weather global economic and trade challenges. Reid says that UKEF has a vital role to play here: “We are listening to what businesses are telling us and adapt our product offering to make sure that it’s fit for purpose.”

In practice this looks like greater financing flexibility, such as offering financing guarantees without the need for a specific export contract. It also means bringing on new lenders to sit alongside the big names in banking. “They can work with us to provide support to businesses that might not get support from the traditional high street banks,” says Reid.

This commitment goes all the way down to making that initial approach to UKEF as easy as possible – it can be done by simply filling in an online form. “This needs to be relatable for the businesses we’re trying to work with. It’s about awareness. It’s about simplicity. It’s about helping them mitigate the risks that they see as they begin on their export journey,” says Reid.

As part of his work, Reid meets businesses from all over the world and says that what he hears from them is very promising for the future of British exports. “The UK offer is very well respected, and people want to buy British – be that goods or services,” he says. “In many ways, we’re pushing on an open door. There is a real opportunity here for UK businesses to take advantage of the appetite for UK goods and services overseas.”

For businesses looking to do so, UKEF is here to help. “It starts with awareness,” says Reid. “We don’t want businesses to miss out on these opportunities. We can help businesses diversify. We can help them mitigate the risks. We can help make export growth a core proposition.”

So, would-be exporters of the UK – what are you waiting for?

Find out more about how UK Export Finance can help your business at: ukexportfinance.gov.uk/from-local-to-global