Growth route could be overseas

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Businesses are being encouraged to explore new overseas markets as a route to growth.

Britain’s trade deficit rose to its highest level in six months in June and the UK has the largest goods trade deficit of any EU member state.

Yet, new figures show confidence among exporting companies is at an all-time high and MY Export Hub - the international trade support arm of the Mid Yorkshire Chamber of Commerce - believe now is the time for businesses to make the leap and begin exporting.

And, to help firms move into a new market MY Export Hub is running a trade mission from October 15 to 19 to Latvia which has the support of a market entry firm with expertise in the Baltic States.

The trip includes pre-arranged business meetings and attendance at the International Business Networking Conference in Riga.

The cost of the package is £844 (plus VAT), plus an additional €100 for attending the conference.

Chamber Head of Policy Steven Leigh said: “Many companies consider the prospect of exporting a daunting proposition, yet huge opportunities await those who dare to make the leap.

“The International Monetary Fund predicts the Latvian economy to grow by 4.2 per cent per year in 2013 and 2014, illustrating the significant potential for British companies who seize the initiative.”