Welsh Government supported SME exports exceed £320m since launch of the Export Action Plan
Cefnogaeth Llywodraeth Cymru i allforion BBaChau dros £320m ers lansio'r Cynllun Gweithredu Allforio
Small and medium size businesses in Wales have secured export deals worth over £320m as a direct result of Welsh Government support since the launch of the Export Action Plan in December 2020.
Welsh Government export support for SMEs ranges from detailed market research on new market opportunities, finding new customers and getting out to market to strengthen relationships and win new business.
It follows a fruitful 2024 for trade missions led by the Welsh Government, helping introduce more than 150 businesses across Wales to potential customers in a range of strategic export markets. These included supporting businesses in the life sciences sector to exhibit at Medica, in Dusseldorf, and Fintech companies to attend Money 2020 in Amsterdam.
One company which has significantly boosted its turnover through exporting, supported by the Welsh Government, is Brainbox Ltd. The Cardiff-based business, which specialises in non-invasive brain stimulation and brain imaging equipment for neuroscience research, has secured new export deals worth around £5m and counting.
Brainbox Commercial Director Dan Phillips said:
“Exporting internationally has been crucial to our success at Brainbox; it’s allowed us to showcase our integrated neuroscience solutions to a global audience, and remain at the very cutting edge of ongoing research and product development.
“Thanks to the Welsh Government’s support, we’ve been able to launch several new products on the international market, build strong relationships with customers and suppliers, and achieve significant growth over the last five years. It’s a great example of how tailored trade support can help businesses like ours thrive on the world stage.”
2025 is set to be another busy year for Welsh Government trade missions with seven overseas trade events taking place by the end of March.
This includes the Welsh Government supporting businesses to exhibit at the Arab Health healthcare expo in Dubai this week; to travel as part of a Trade Mission to Singapore and Malaysia next month, as well as attending Gulfood in Dubai; and to attend the Foodex trade show in Tokyo and the Game Developers Conference in San Francisco in March.
The annual Explore Export Wales conferences will also be held in March this year. Organised by the Welsh Government, the event brings together the ‘Export Ecosystem’ of support available to businesses in Wales under one roof to provide advice and guidance on all aspects of exporting.
Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said:
“Exporting has the power to transform SMEs, allowing them to grow as a business, expand their workforce and become more resilient in a competitive global economy. That’s why export support for businesses in Wales is a high priority for this Welsh Government.
“Despite challenges in recent years, the significant value added to the Welsh economy as a direct result of our work in this area speaks for itself, and I look forward to seeing our Export Action Plan continue to deliver vital export support for businesses across Wales in 2025.”