A new report from the Railway Industry Association (RIA) is urging the government to provide better support for small and medium-sized enterprise (SME) rail exporters. The report, published today, highlights a growing desire among UK SMEs to export but also identifies key barriers they face.
The analysis is based on a workshop held earlier this year with UK companies and RIA’s Export and SME Leadership groups. The global rail supply market is projected to grow by 3% a year until the end of the decade, and the report argues there is significant potential to increase the UK’s current rail exports, which are worth over £1 billion annually and support nearly 12,500 jobs.
Key Findings and Recommendations
The report’s key findings and recommendations are:
- Better Signposting: Improved guidance on available export support and training is needed.
- Market Intelligence: A more coordinated approach to sharing overseas market intelligence is essential.
- Financial Support: Greater visibility of services offered by UK Export Finance (UKEF) to unlock financial support and procurement opportunities.
- Collaboration: A clear pathway should be established between Tier 1 companies and SMEs to boost the value of rail exports.
- Working Group: Key stakeholders, including RIA, the Department for Business and Trade (DBT), UKEF, and the Department for Transport (DfT), should form a working group to implement the report’s recommendations.
Joy Grover, RIA’s Exports Leadership Group Chair, said: “This membership consultation exercise is a call to action for the Government and those in a position to influence to give more support to companies who contribute to our export economy, SMEs, Tier 1 & 2 companies and OEMs [Original Equipment Manufacturers] in the UK rail industry. It particularly highlights the challenges faced by smaller UK rail companies who are considering exporting or aiming to increase their export income. It is essential to preserve our supply chain in the UK, not only for economic success, but also to ensure that when infrastructure projects are released in the UK, a domestic supply chain still exists to deliver them.”
Catherine Leech, RIA SME Group Chair, said: “SMEs form a critical part of the UK economy so it is in the interest of the UK to create an environment where SMEs can thrive both at home and abroad. The Workshop has provided invaluable insights into the how SMEs view the world of exporting and more particularly the struggles with pursing opportunities. As RIA SME Group Chair, I can reiterate that RIA and its SME members are committed to breaking down barriers and working across the sector to facilitate a stronger exporting community.”
Neil Walker, Exports Director at RIA, said: “It’s clear to see there is a growing appetite and wish to export among UK SMEs, who often need more support in sourcing help, information, rail related market intelligence or exporting activity available to them. Next steps, supporting our exporters, working with officials and supported by RELG to address these concerns is clearly an outcome we would want to take forward following this report.”
