Clearview South January 2014 - Issue 146 - Page 72

BUSINESSNEWS BOOST FOR EXPORTERS AND BANKS AS UK EXPORT FINANCE INCREASES RISK UNDERWRITTEN The news that UK Export Finance will increase the risk it underwrites from 50% to 80% across its Bond Support and Export Working Capital schemes, will enable banks to assist more exporters seeking to maximise opportunities in international trade. At a breakfast event at the Institute of Directors, representatives from a wide range of banking organisations reacted positively to a raft of developments outlined by David Godfrey, Chief Executive of UK Export Finance, which supports small and mediumsized enterprises (SMEs) and mid-market exporters by sharing financial risks that the private sector is unable to shoulder alone. Since 2011, UK Export Finance, the UK’s export credit agency, has broadened the trade horizons of over 120 UK-based businesses. Backing almost £1 billion of export contracts to over 65 markets and with a pipeline of a further 300 transactions. A recent NAO report forecasts a potential £22 billion funding gap between the level of finance available to SMEs and the amount ‘From 50% to 80%’ they need. Mr Godfrey said: “Exports are vital to the UK’s future growth and we are committed to playing our part in plugging the finance gap to accelerate opportunities for those with the potential to take their business further. INTERNATIONAL INVESTMENT SECURED TO BUILD 6,600 HOMES IN THE UK Business Secretary Vince Cable has welcomed a new £700 million inward investment deal, which will be delivered through UK company Sigma Capital Group with backing from international investors, Gatehouse Bank. The new joint venture will enable Sigma Capital Group, a residential and urban regeneration specialist, to build up to 6,600 new privately rented homes in the UK. Sites for an initial 2,000 homes have already been identified in Liverpool and Greater Manchester. The deal has been facilitated by UK Trade and Investment’s (UKTI) Regeneration Investment Organisation (RIO), which has been set up to direct investors to credible, industry-backed development opportunities throughout the country. Business Secretary, Vince Cable said: “The announcement from Sigma Capital and Gatehouse Bank will create thousands of modern new homes as well as new jobs in Liverpool and Manchester, with similar plans in the pipeline for other regions in the country.” Sigma Chief Executive Graham Barnet said: “Underpinning this new venture are our Local Authority Partnerships and I am extremely pleased that this agreement creates the conditions for us to help efficiently deliver their regeneration objectives with high quality new homes.” TO SEE OR NOT TO SEE: GLASS VISION APP LAUNCHED Yorkshire-based Saint-Gobain Glass has created an app set to be a game changer, by altering the way interior glass is viewed. Going by the name of Glass Vision, forget visiting a showroom, you can now browse different glass types wherever you are. 72 JAN 2014 The Glass Vision app is an interactive tool that helps to choose the right interior glass for the home, office or other applications. SaintGobain has created an app that is very unique to the industry; intuitive and easy to use, users can see what a certain glass would look like in the immediate surroundings thanks to a glass simulation. Particularly useful for architects and interior designers, the app is an alternative to a physical sample. Covering over 30 products from the premium product range – SGG DECORGLASS (traditional patterned glass), SGG MASTERGLASS (contemporary patterned glass), SGG PLANILAQUE EVOLUTION (lacquered glass), SGG SATINOVO (acid-etched glass), Glass Vision offers