The UK-US trade relationship was worth £332bn in 2025, according to the UK government. On 9 September more than 80 small firms from both countries met in Cardiff. They met to talk about how to trade across it. Export finance was not on the agenda. For a small exporter it is usually the first problem.
01What happened in Cardiff
The 10th UK-US SME Dialogue met on 9 September. According to gov.uk, the UK convener was the Department for Business, Innovation, Science and Trade. Three US bodies also convened it: the Office of the United States Trade Representative, the US Department of Commerce, and the US Small Business Administration.
Over 80 UK and US small and medium-sized businesses took part. According to gov.uk, they discussed the opportunities and obstacles to SME trade. They also covered the future of manufacturing, innovation in digital and AI, and UK-US supply chains and investment.
The figures are large. According to gov.uk, UK-US trade was worth £332bn in 2025. At the end of 2024 the two countries had £1.2 trillion invested in each other's economies.
02Why it was held in Wales
Cardiff was chosen for a reason. According to gov.uk, Wales has world-leading strengths in aerospace and defence manufacturing. It is also home to the world's first compound semiconductors cluster.
The same statement names life sciences, renewable energy and the creative industries. In those sectors a US buyer is a realistic prospect for a small firm.
03What export finance does a small exporter need?
This is the part the statement does not cover. It says nothing about export finance. It says nothing about insuring an overseas buyer. And it says nothing about the gap between shipping goods and being paid for them.
That gap is the practical problem. Selling into the US usually means longer payment terms. It also means more stock in transit, and costs paid out before any money comes back. The order is good news. The cash cycle gets longer before it gets shorter.
There is government support. UK Export Finance is the government's export credit agency. Its stated aim is that no viable UK export should fail for lack of finance or insurance. Check what it offers before you look anywhere else.
Most exporters still need working capital to bridge the gap. That is a commercial question, not a government one. A broker can look at the deal across a wider range of lenders than any single bank offers. Our page on growth finance sets out what that covers.
Two related guides may help. If you are deciding whether to fund an order now or wait, read funding growth when most firms hold back. If you make what you sell, read our working capital guide for small manufacturers.
