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Business festival to create £300m bonanza

Liverpool's International Festival for Business 2014 is expected to generate some £300m of sales and investment for UK companies over the next three years, creating around 10,000 jobs in the process. Liverpool Vision, which organised the festival, revealed the statistics at a ceremony in London on Tuesday evening. The interim IFB evaluation report suggests that as a direct result of IFB 2014, 350 companies expect to sign investment deals worth £200m, while 1,400 companies secured export sales totalling £100m. The festival had the backing of major businesses including Santander. Steve Pateman, head of UK banking at Santander, said: 'Our own research suggested that less than one in 10 of UK small and medium-sized enterprises currently export overseas. One in seven told us they would like to trade internationally but said they don't know how to overcome the challenges of entering new markets. The IFB 2014 was the perfect opportunity to get behind our great British businesses and play our part in helping them overcome these challenges.'

 

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