Lloyds Bank is launching an online tool to help UK businesses grow globally
Lloyds Bank is launching a new initiative to help UK businesses move into overseas markets.
Through the bank's new international trade portal, businesses will be able to get practical support and advice on the international opportunities that suit them.
Read more: Stalemate in Santiago: Basel Committee fails to reach agreement
It will also be a troubleshooting service, to help businesses avoid the pitfalls associated with expanding abroad.
The tool will be online, and will allow users to search for suppliers that could be trading partners, find information on trading requirements, and access market reports and events for their sector.
Andrew Bester, chief executive of Lloyds Bank Commercial Banking, said:
More of our businesses are trading internationally than ever before, or are looking to do so for the first time, and they are telling us they want practical support and guidance from their bank to help them explore new markets and opportunities overseas.
Lloyds Bank said the initiative was intended to help small businesses in particular, because they have less time and resources to invest in creating business opportunities abroad.
Jo Harris, managing director of Lloyds Bank Retail Business Banking, said: "Our smallest business customers stand to gain the most from the opportunity to trade internationally.
"The new portal will put a world of new opportunities at their fingertips."
Businesses will also be able to use the tool to:
- look for real-time public or private tender opportunities around the globe
- view sanction checks on potential trade partners
- use an import and export calculator to optimise shipping costs
- view live foreign exchange rates.