Export aid for UK?

support for small businesses’ Vouchers ‘could bring export

SMEs in line for support for overseas trade — if FSB recommendations are heard

THE UK’s Federation of Small Businesses (FSB) is calling on the Department for International Trade and the Treasury to give small firms an injection of support.

The FSB wants to introduce export vouchers, to a value of £3,000, to help small firms with costs in translation services, market research, and finding new clients.

The aid would be sourced via overseas trade fairs — helping to grow individual businesses and the economy as a whole.

The potentially positive impact on exporters of the depreciation in Sterling has been offset by the currency’s volatility — and Brexit. Some 53 percent of smaller exporters to the EU believe their business continuity and growth will be negatively impacted by a no-deal scenario. No-deal preparations cost on average £2,880, rising to around £3,000 for those that import and or export.

FSB national policy chairman Mike Cherry said exporting was a critical part of the British economy. “But … it’s time that the government stepped in and gave small firms the help that they need.

“The introduction of export vouchers will alleviate some of the strains that exporting firms are facing.” It was important to establish an understanding of the terms of post-Brexit trading with the EU and the rest of the world, he said. Uncertainty stops small firms planning and preparing for the future, with 40 percent of exporters saying the factor had a negative impact on their ambitions.

Around 21 percent of small firms currently export, but FSB believes that with additional assistance from the Government that figure could double. These financial incentives are “a great way to support small firms” which are “the backbone of the economy”.

Mike Cherry, FSB national policy chairman

Support needed to avoid scenes like this

Roula

10

Khalaf The ‘pink press’

PEOPLE

gets a new editor

FOR the first time in its 130-year history, The Financial Times has its first female editor: Roula Khalaf

The UK news outlet has grown from a traditionally pinkhued print publication into a diversified subscription service with over a million readers around the world.

Khalaf, who had served as deputy editor since 2016, is a 25- year veteran of the business publication. The FT’s owner, Japanese publisher Nikkei, expressed confidence that Khalaf would continue the “mission to deliver quality journalism without fear and without favour”.

Khalaf has previously written for Forbes, and during her time there penned an investigative piece about Jordan Belfort, the infamous stockbroker immortalised in Martin Scorsese’s The Wolf of Wall Street. Khalaf’s work helped to alert authorities to Belfort’s criminal misconduct — and earned her a mention in the movie.

The US-educated Lebanese native has been praised for her distinguished career. She served as The Financial Times Middle East editor, foreign editor and deputy editor before assuming lead editorial responsibilities this year. She has been credited with boosting newsroom diversity and expanding the FT’s female readership.

Khalaf expressed gratitude to her predecessor, Lionel Barber, for his mentorship and his legacy. The paper was founded in 1888 and headquartered in London. It was an early pioneer of digital content and has always maintained that quality doesn’t come cheap. It launched its first digital paywall in 2002, requiring readers to purchase a subscription plan for access. In 2007 it moved to the metered model still in effect today, which allows a limited number of free online articles before the paywall blocks access.

There are now over a million paid subscribers, and 75 percent of circulation comes from digital avenues.

The Financial Times began 2020 in a strong market position, and — according to Barber himself — a “strong, wise, and fair individual” at the helm. He says Khalaf will take the publication “to another space and level”.