Businesses behind Scotland’s most emblematic exports have been able to grow thanks to £42 million in UK Export Finance (UKEF) deals brokered so far since the summer.

UKEF is renewing a £12 million support package delivered with Virgin Money for First Tech subsidiary First Subsea, allowing it to continue its growth into the offshore wind market and provide UK-made products like cable protections systems, bend restrictor products or heavy lift connectors, across the globe.

Trade Policy Minister Douglas Alexander MP joined UKEF representatives today at the ‘Made in Scotland’ roadshow, where he encouraged Scottish businesses to take advantage of the opportunities to sell abroad and hear first-hand about the support UKEF has provided.

Douglas Alexander MP said:

“Growing the economy is a key part of this UK Government’s Plan for Change, and we recognise the importance of boosting Scottish exports in achieving this.

“We’re working hard to ensure that Scottish businesses have the support they need to sell to the world and grow, and the help that UK Export Finance provides is a crucial part of this.”

UKEF is the UK government’s export credit agency, providing credit guarantees and insurance helping smaller businesses to overcome financial barriers to exporting.  Export credit is an integral part of the government trade support being promoted at the first ‘Made in Scotland, Sold to the World’ trade fair of 2025.

In 2021, Scotland’s exports were worth £50.1 billion, of which the majority – £33.5 billion – were goods.

UKEF’s specialised trade finance offer sits alongside other sources of support from public organisations like the Export Support Service, UK Export Academy and British Business Bank, which can offer more general access to finance.