Inward investment
To help develop the regional economy our
inward investment strategy focuses on two areas:
- developing regional companies’ ability to
trade in international markets
- promoting the region’s business offer to
potential overseas investors
The South West International Trade ‘Dual Key’ Action Plan, agreed
annually between UKTI and the South West RDA, sets out priorities
for publically funded support to businesses that want to trade
internationally.
In the region, the ‘Passport to Export’
programme is the main source of initial support for companies new
to exporting. In the year to end March 2008, UKTI and the South
West RDA funded 327 Passport clients to sign up to the programme.
Of the businesses that used the service, 83% reported to UKTI that
the programme had improved their business performance.
The region’s business environment has
attracted more than 1,500 foreign-owned companies including major
firms such as HP Labs, Orange, Honda, Airbus, Imerys, GE Aviation,
BD (Becton Dickinson), Pall, Motorola and Wrigleys. And these
larger companies tend to have extensive supply chains which have a
huge impact on a high number of the region’s businesses.
You can see examples of how the South West has
attracted inward investment at www.southwestengland.co.uk,
which promotes the region’s offer to business investors. The site
also sets out the support available to potential investors.