Under the ambitious five-year partnership, UK businesses of all sizes will be able to seize trade and investment opportunities across the globe, and capitalise upon the benefits of closer working between HSBC UK and DBT, ensuring the UK is positioned as a top global destination for investment.
Four priorities for joint work between HSBC UK and DBT have been agreed:
The UK already commands a leading position on the world stage of international trade. Businesses in the UK export more than £600bn worth of goods and services each year, and the government’s ambition is to achieve £1 trillion exports per year by 2030.
There is a clear appetite for British businesses to grow their international profile: in a survey of more than 2,000 UK businesses by HSBC UK, 53% of those businesses already trading internationally reported how global trade was critical to their future growth, whilst 8% - the equivalent of 448,000 UK businesses – have ambitions to start trading.
Minister for Investment, Lord Johnson, said:
“This government is absolutely committed to growing our exports around the world and attracting ever more inward investment to create jobs and grow the economy.
“Through this new partnership, UK businesses can take advantage of the lucrative and growing number of trade and investment opportunities being created across the globe, helping them to grow and thrive.”
Ian Stuart, CEO of HSBC UK, said:
“We are proud to strengthen our excellent relationship with the Department of Business and Trade by launching this new joint strategic partnership.
“As the world’s leading bank for international trade finance, clients tell us that they value our exceptional knowledge and experience when navigating the challenges associated with international expansion.
“We believe that opportunities exist for clients to grow their business by expanding into new markets or growing their supply chain or client base internationally. We are delighted to be working with DBT to help businesses achieve their goals.”
HSBC is one of the world's strongest banking partners, recognised by Euromoney as being the world’s best bank for trade finance for five consecutive years.
Clients value HSBC’s ‘on the ground’ knowledge and global payment capabilities when navigating the challenges of international expansion – in particular the bank’s ability to connect clients to businesses in new markets and help them navigate local legislation and cultural considerations.
HSBC remains the single largest user of UKEF classic short-term schemes by volume of transactions, accounting for 40% of transactions since their introduction in 2011.
About HSBC UK
HSBC UK serves over 14.75 million customers across the UK, supported by 24,000 colleagues. HSBC UK offers a complete range of retail banking and wealth management to personal and private banking customers, as well as commercial banking for small to medium businesses and large corporates.
HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 63 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of $2,992bn at 30 September 2022, HSBC is one of the world’s largest banking and financial services organisations.
Department of Business and Trade
DBT is a ministerial department for economic growth. Supported by 20 agencies and public bodies, we help businesses to invest, grow and export, creating jobs and opportunities across the country.