In addition to the assistance generally available to all UK businesses at this difficult time, the Department for International Trade (DIT) also offers guidance and help specific to internationally trading UK businesses affected by the Covid-19 pandemic.
The DIT may assist with:
- customs authorities to ensure smooth clearance of products
- advice on intellectual property issues and other issues concerning business continuity
- finding alternative suppliers if your supply chain is affected by Covid-19.
UK Export Finance (UKEF), the UK’s official export credit agency for finance and insurance assistance, may also help (subject to fulfilling the criteria set out for each scheme) those UK exporters facing delayed payments or transit restriction. This includes:
- helping ease cash flow constraints by guaranteeing bank loans through its Export Working Capital Scheme
- offering an export insurance policythat can help you recover the costs of fulfilling an order that is terminated by events outside your control
- supporting finance for overseas buyers through the Direct Lending Facility scheme, so they can continue to buy your goods and services
- UKEF has over £4bn of capacity to support UK firms exporting to China, as well as significant capacity across other markets affected by coronavirus (COVID-19) to help cover these risks
The government’s dedicated coronavirus business support website is a hub providing advice and support that may be available to UK businesses during these challenging times and may also prove helpful.
