Category Archives: Export

Export, Finance and Banking, News, Yorkshire

Export dreams come true as government support secures £2.5m funding from Santander UK for Dewsbury bed manufacturer

Dewsbury Manufacturers Export Dreams Come True As UK government’s export credit agency issues a guarantee allowing Jay-Be to access a £2.5m funding package from Santander UK

The UK government has secured a £2.5m funding package alongside Santander UK to help Dewsbury furniture manufacturer Jay-Be fuel its export growth.

UK Export Finance (UKEF), a government department which exists to help UK firms win, deliver and get paid for export contracts, provided support for the bed and mattress specialist by issuing a General Export Facility (GEF) loan guarantee. This allows Jay-Be to access a £2.5m funding package from Santander UK.

The GEF is a game-changing product for existing or prospective UK exporters, allowing smaller firms to access up to £25m in trade finance without a specific export contract.

Already a supplier to high street names like John Lewis, Bensons for Beds and Next, Jay-Be began exporting in 2012 and now serves customers in more than 15 countries. With this foothold, it will now be able to use UKEF support to ramp up its international sales and bring a Yorkshire export to more people than ever.

Based in Ravensthorpe, Dewsbury, Jay-Be designs and makes all of its products in the UK. Further expansion overseas will help to support jobs within the UK manufacturing sector.

The newly announced UK government guarantee means that Jay-Be can continue its export growth by extending its next-day delivery service to overseas regions where it operates. The extra £2.5m will allow it to invest in overseas facilities where it can keep local stocks, making it possible for the Dewsbury firm to deliver to customers all over the world within a single day.

This is the latest instance of UKEF helping small and medium-sized enterprises across the country access trade funding from the private sector. Four in every five companies which the export credit agency supported in the last year were small-to-medium-sized companies and based outside London.

This deal is also a step forwards for sustainable UK manufacturing, which will help this country’s innovative exports reach a wider international audience than ever. Jay-Be uses materials like sustainably sourced wood and recycled plastic. In 2023, it won the British Furniture Manufacturers ‘Future of Furniture Excellence in Sustainability Award’.

 

Tim Reid, CEO of UK Export Finance, said: “Our General Export Facility means that UK businesses can access up to £25 million in trade finance without tying it to one specific contract; this deal with award-winning Yorkshire manufacturer Jay-Be shows the difference which this can make for existing exporters who dream of accessing more global markets. I wish Jay-Be the very best success in its growth plans.”

 

Alissia Deane, UKEF Export Finance Manager for West Yorkshire, added: “UKEF exists to help businesses nationwide win and deliver export contracts, offering free, impartial advice through its regional Export Finance Managers as a starting point. This announcement of our support for Jay-Be shows the value which we, working alongside financial institutions like Santander UK, can bring to innovative companies looking to grow their global presence.”

 

Roger Durrans, CEO of Jay-Be, said: “We are extremely appreciative of Santander UK and UK Export Finance for this support. Our journey into international markets over the past few years has presented its share of challenges, but achieving the export of our beds and mattresses overseas is an accomplishment of which we are very proud.

“Now that we have successfully established a presence in multiple countries, this export loan facility is pivotal. It will enable us to maintain stock in each export market, enhancing our ability to provide an improved local service, which will significantly accelerate our global expansion strategy and ultimately contribute to creating more employment opportunities in our local area.”

 

Simon Dunn, Trade & Supplier Finance Director at Santander UK, said: “We are pleased to build on the funding we provided our client Jay-Be last year with this latest funding package to support it to grow internationally. Given our extensive international network and overseas trade expertise, we are well placed to assist Jay-Be to grow. Santander UK is proud to support businesses such as Jay-Be that are manufacturing innovative products that minimise impact on the environment.”

 

Mark Ling, Head of Trade Finance & Supplier Finance at Santander UK said: “We are delighted to continue supporting Jay-Be’s export journey alongside the support from UKEF. The General Export Facility, which was developed in collaboration with UKEF and UK banks, is really helping the vital growth of exports from the UK.”

Business, Export, News

America was the top international destination for Coronation souvenirs, says ParcelHero.

The USA officially went Coronation crazy. From tea towels to T-shirts, from California to New York, 60% of all Coronation gifts and memorabilia ParcelHero delivered overseas went to America.

In July 1776, America rejected the rule of King George III and declared Independence from Britain. Almost 250 years later, it seems all is forgiven, says the UK-based international delivery expert ParcelHero.

ParcelHero says the USA was, by far, its busiest destination for Coronation souvenirs outside of the UK. 60% of all the Coronation-themed products it shipped in April went to the USA, far outstripping the 20% sent to Australia, the next busiest destination.

ParcelHero’s Head of Consumer Research, David Jinks M.I.L.T., says: ‘It seems that the US took Coronation celebrations to heart. The number of American tourists soared by 14% during the Coronation period, against even pre-Covid 2019. For those who couldn’t get to the event in person, there were tea parties, brunches, work events and other celebrations right across the USA.

‘Looking at ParcelHero’s April data, it’s astonishing to see just how many Coronation-themed items were sent across the Pond ready for the big day. These ranged from pictures and tea towels bound for Riverside, California, to souvenir books and T-shirts sent to Riverside Drive, Manhattan.

‘Among the Coronation souvenirs ParcelHero delivered were musical tins to Seabeck, Washington State; bunting to Ashland, Ohio; mugs and coins to Kansas City and teddy bears to Prescott, Arizona.

‘Around 10m people watched the Coronation live in America, with thousands more celebrating with British-made flags and hats. Many of the items sent via ParcelHero were souvenirs from family and friends in Britain, while UK exporters using our services showed a brisk trade in online orders from the US.

‘Australia was the next largest overseas destination for Coronation-themed items, with ParcelHero delivering bunting, mugs and costumes from Perth to Melbourne.

‘People in Japan also joined the celebrations, with Tokyo another top destination for King Charles III memorabilia. Singapore also received a notable amount of Coronation souvenir deliveries, but it was the US that took the crown.

‘America doesn’t just spend royally on Coronation souvenirs – it is Britain’s leading export market, post-Brexit. That’s not surprising, as a shared language keeps transactions simple and there are no duties due on UK goods valued at under $800 that are sent to the US.

‘Using a price comparison site such as ParcelHero, sending a parcel to the USA is also quick and easy. It’s simple to book and you don’t need an account. Senders can compare prices of all the leading couriers to select the optimum service. ParcelHero offers collection or drop-off, fast next-day delivery across the United States, and economy USPS postage services for those on a tight budget. For more information, see: https://www.parcelhero.com/en-gb/international-courier-services/usa-parcel-delivery

 

Export, News

Get To Know Multiple Choices for Import Financing

The import and export industry is still considered one of the most lucrative forms of enterprise that one may get involved in. Despite this, getting into the import sector is still fraught with peril.

You can compare the import sector to online businesses like casinos such as online casino NetBet since they share the same risk if not managed well.

Suppose you are still interested in breaking into the business of international commerce. In that case, one of the first things you need to do is find the most advantageous export and import finance options currently on the market.

With these solutions, you will have access to the working capital necessary for your venture, as well as an improved cash flow, because you will be able to get the assurance that all relevant matters are effectively settled with suppliers and that payments are promptly received from buyers. In addition, you will have access to the working capital that is necessary for your venture.

Today, there is a selection of several import finance solutions available to pick from. They can be used independently or with two or three other marketing strategies. You have the following choices available to you, which are among the most common:

Accounts receivable financing

This choice involves selling or pledging your firm’s account receivables to a bank, other financial institution, or a company specializing in accounts receivable financing for a reduced price. In this scenario, the buyer agrees to take the risk of loss associated with the receivables.

You will get a portion of the face value of your receivables in advance of payment from your customers in exchange for a charge, which may include interest, which will be paid to the commercial financing business.

This percentage is typically between 80% and 90% of the total value of your receivables. After the relevant costs have been deducted from the client’s payment to the business loan firm, the remaining balance is refunded to you.

Financing based on purchase orders

The assignment of purchase orders to a third party, such as a bank, financial institution, or commercial finance business, who subsequently takes on all of the responsibility of billing and collecting from consumers, is one of the options for financing imports.

Your business’s cash flow may be maintained and even improved with the help of purchase order financing, which enables you to finance all current and future orders.

The financing of inventory

A loan secured by your company’s inventory is what is meant by the term “inventory finance.” Because of this financial solution, import businesses can create more sales and store more stock without burdening their cash flow. Most of the time, financing for inventory is included in a commercial finance package and financing for accounts receivable and purchase orders.

Conclusion

The three different sorts of options for financing imports that were discussed above have the potential to expand your company’s capacity for making purchases significantly. Because of these possibilities, you can expand your customer base while simultaneously accepting orders of a greater quantity.

If you work with the right bank or other financial institution, the import finance solutions you want may also be adapted to meet your company’s specific needs.

Export, Lifestyle & Travel, News

Have you ever considered doing business in Vietnam?

For a long time, Vietnam has been perceived purely as a socialist nation somewhere in Southeast Asia. However, this is rapidly changing, not only because of the country’s popularity as a tourist destination but because of its rapid economic expansion and incorporation into the technological arena.

If you have been thinking about where to head for your next vacation or maybe a place where you can find potential allies for your business, keep on reading this article for more information on how to get there and what options you have in the southeast Asian country.

It’s not a secret that there will be some requirements. In any case, even those are easy to accomplish today because of online digital instruments. We found a convenient platform that allows you to do it without complications and from the comfort of where you sit. Check out hundreds of users’ comments that tell you about their experience applying for their visa or other travel documents with iVisa. Their team of experts will give you all the information you need before leaving for Vietnam and all you need to do to apply for your Vietnam eVisa. Their simplified form will allow you to submit an application by following three simple steps. Just answer a few simple questions, and you’re on your way to getting your visa. Another cool thing is that an iVisa expert will be assigned to guide you through the entire process of getting a Vietnam eVisa and getting your photo taken. This is without having to look for a professional photography studio. Something convenient to have when prepping for your travels abroad, so be sure to check it out.

Once you have sorted out all your paperwork and arrived in the country, you will first notice the importance of its geographical location in the Indochinese peninsula. Sharing borders in its northern area with China, Laos, and Cambodia to the west, and finally with The Philippines, Indonesia, Thailand, and Malaysia at its coastal S-shaped maritime borders.

Our top recommendation for tourists is to visit Hanoi, the capital city of Vietnam. This city is significant not only because of its history dating back to the third century BC but because it is a vibrant city with over 8 million inhabitants. This makes it a place of delight for those seeking ancient temples and busy streets, with restaurants, shops, and art galleries.

Those looking further than tourism will see that Vietnam is much more than a country, filled with ancient temples and ruins of the mighty empires of the distant past. It has been keeping up with the current economic and technological arenas.. Its geographical position, and tropical climates, are just some of the many advantages of investing in Vietnam. Other benefits like tax reduction or, in some instances, an exemption for up to four years make it a perfect place for digital nomads and IT professionals to decide to move their businesses there.

An additional reason is that in 2012, the Vietnamese government launched a scientific and technological development plan. Despite the Vietnamese government’s political orientation in the past, it is evident that the government fully supports the incorporation of the country into the new technological advancements through the creation of the Ministry of Information and Communication.

However, it’s not only foreign unicorns that are investing and seeking company growth. Instead, it’s also Vietnamese allies and national enterprises that are thriving in the world of IT, AI, and Fintech. But it doesn’t end there; in 2019, the telecommunications and 5G technology industry were worth USD 15 million. More and more users are connected to the Internet daily. The country has even agreed with Asian countries to develop 5G technology with Vietnamese gear. If you look a bit closer, in 2021, tech enterprises had made up to USD 8.6 billion in revenue and had 188 companies functioning.

Due to a high percentage of the population being young and inclined to be a part of the changing ways society is developing, the country has grown so rapidly in the last few years. It has easily been incorporated into the latest economic and technological development paths.

All this is evidence that Vietnam aims to position itself as one of the leading players in the industrial revolution. This is not only through human capital but also through becoming a supplier of essential items for technological development.

So what are you waiting for? Whether looking for a delightful vacation on a tropical beach, jungle, or temple, or even settling down and contemplating new business ideas or expanding existing ones, we advise you to consider Vietnam as one of the main destinations where you can get both.

 

Business, Export, International News, News

Chamber’s international trade showcase success

Chambers Wales South East, South West and Mid hosted an international trade exhibition and dinner to enable Welsh businesses to thrive on the global stage.

The ‘Wales to the World’ event was held in association with the British Chambers of Commerce, Welsh Government and Moneycorp at Cardiff’s City Hall, with 87 attendees and three keynote speakers: David TC Davies, Andrew Gwatkin and Shevaun Haviland.

Panellists Anne-Marie Martin Andrew Gwatkin Cathryn Law Patrick Postil Liz Maher OBE
Shevaun Haviland Director General of the British Chambers of Commerce
Andrew Gwatkin Director of International Relations and Trade Welsh Government
David TC Davies Secretary of State for Wales

In his first official engagement in post, David TC Davies, the new Secretary of State for Wales, discussed the need to increase the pace of trade across the world and his belief that businesses in Wales are competitive globally.

Andrew Gwatkin, Director of International Relations and Trade for the Welsh Government, commented on the need to emphasise Wales’ opportunities in the world and develop international trade at SME level, as well as sharing how the Welsh Government are supporting businesses.

Shevaun Haviland, Director General of the British Chambers of Commerce (BCC), spoke of the Chamber’s global business network, how the BCC and local Chambers are helping through end-to-end support and the role they hold in leveraging the work done by governments.

The event was held in the lead up to international trade week (October 31 – November 4) and, in addition to the dinner, featured opportunities to engage with exhibitors including Business Wales, Centurion VAT, DIT Wales, Iungo and United Worldwide Logistics among others.

The exhibition also featured an exclusive breakout knowledge sharing session, focusing on customs changes, access to markets and the support that is available for businesses to enable trade.

Drew Flowers, Director of Trade at Chambers Wales South East, South West and Mid, said: “We want businesses in Wales to grow and trade across the world, with a clear understanding and confidence of how to do that effectively.

“That is why we brought in a range of expert speakers and leading organisations to ensure attendees enjoyed an event full of quality knowledge, resources and connections, so Welsh businesses can feel supported when trading.

“There was a real air of positivity at the event with businesses and speakers excited for the future and supportive of the prospects and trading potential for businesses in Wales.”

Export, International News, News

New Trade and Investment Summit set to boost trade between the UK and French speaking Africa

UK businesses are set to benefit from an enhanced trade relationship with Francophone Africa, as a new trade and investment forum is established to unlock opportunities across the region.

The inaugural meeting of the UK-Francophone West and Central Africa Trade and Investment Forum is set to kick off in London from Wednesday, October 19. It will welcome senior politicians and business leaders from across eight different countries.

The two-day inter-governmental event will be hosted by London-based DMA Invest in partnership with the Department for International Trade and UK Export Finance.

Discussions will focus on how businesses can seize new potential opportunities across the nations that have had little history of trade with the UK and foster new profitable relationships.

DMA Invest CEO Atam Sandhu said: “The many French-speaking West and Central African countries have been historically under-represented by British industry. This, however, has been a trend in reverse for several years, culminating in June’s ascension to the Commonwealth of Gabon and Togo.

“DMA Invest and HMG have discussed this for many years. The timing and appetite was right and we began planning.

The eight countries represented at the event include the West Africa power houses of Senegal and Cote d’Ivoire, Central Africa’s Cameroon and the extraordinarily diverse economies of Benin, Niger and Guinea.”

Atam added: “Countries who have had little diplomatic presence in the UK are opening embassies with commercial diplomacy teams, Togo and Gabon are officially joining the Commonwealth during the week of our event – there’s a buzz in the airports and hotels in the region and embassies in the UK are reporting more business visas issued than ever before.”

Demand for the event has been so strong that a limit has been placed on the number of delegates from each business able to attend.

“This is not something we have had to do with any other international trade-focused event and shows just how positive the mood is in relation to the region being open for business,” said Atam.

“This really is a departure to all that has come before in terms of a non-Anglophone approach.”

His Majesty’s Trade Commission for Africa, John Humphrey said: “UK Export Finance has witnessed a growing interest in French-speaking West and Central African markets – an appetite which has seen consistent year on year increases. Recent successes in these markets include an award-winning and record financing facility for primary healthcare in Cote d’Ivoire and an innovative infrastructure financing facility in Cameroon.”

In addition to governmental presence, 300 well-capitalised, multi-disciplinary British companies with an interest in emerging markets and expertise in banking, finance, infrastructure development, healthcare, education, clean energy, agro-processing, legal services, pharmaceuticals, de-carbonisation and FMCG are going to be present to see for themselves the scale of opportunity.

Business, Export, News

Welsh businesses urged to make switch to new customs system before fast-approaching deadline

Welsh businesses are being warned that they could be banned from importing unless they urgently switch to a new Government computer system before the fast-approaching deadline.

Chambers Wales South East, South West and Mid is issuing the warning as HMRC’s Customs Handling Import and Export Freight (CHIEF) system is due to be replaced by the Customs Declaration Service (CDS) on October 1 for companies importing goods from abroad.

In the first quarter of 2022, the value of goods imported to Wales was £5.8 billion, an increase of 64.3% from the same period the previous year.

The Customs Declaration Service is set to serve as the UK’s single customs platform. It has already been used by businesses for imports and exports for countries outside of the European Union and declarations for Northern Ireland in recent years. It will now be used for all imports and exports.

HMRC has now announced that firms have an additional month to continue using CHIEF through their current customs intermediaries but Chambers Wales fears this will not be enough.

Drew Flowers, Director of Trade, Chambers Wales South East, South West and Mid, said: “We’ve been working closely with many businesses in recent months to get them prepared for the change to CDS, but we still fear that many businesses are in danger of being unable to import if they don’t take steps to move to the new system immediately.

“While this one-month extension may be helpful for some who have already begun to make the transition, it quite possibly won’t be enough for those that aren’t as prepared.

“We’re urging all Welsh businesses that rely on imports to sign up to the new system right away if they haven’t already. Not only that, it’s vital that businesses also know how to operate their new account and familiarise themselves with the new elements and tariff information.”

Liam Smyth, Managing Director of ChamberCustoms, which is owned by the British Chambers of Commerce, said: “The switch over from CHIEF to CDS, has been on the cards for quite some time. We began using the new system with our customers six months ago.  But we are regularly hearing from traders who remain frustrated by difficulties in completing their registration.

“Many intermediaries and businesses are still not ready and we are seeing an increased demand for switchover courses with just days to go.

“A month extension will not be enough, intermediaries that have only recently had access to the CDS training system need more time to embed training, CDS is very different to CHIEF.

“If firms are shut out of CHIEF before they are ready then they will effectively be cut adrift and find themselves unable to import.

“With all the other cost pressures and supply chain disruption businesses have been facing it is perhaps unsurprising that some have yet to act, but it is now getting to crunch time.

“Firms need to take action immediately and HMRC needs to look closely at the support and lead in times it is prepared to offer. Otherwise we could be looking at a cliff-edge that could hammer companies at a time when they can least afford it.”

Chambers Wales South East, South West and Mid is a dedicated customs intermediary who can manage all HMRC declarations through every port. Supporting both importers and exporters, the experienced team curate end-to-end solutions and can advise on the latest technological changes and digital processes to help keep goods moving and ensure compliance at every stage.

 

Export, Finance and Banking, News, Yorkshire

Government backing puts wind in sails of Middlesborough boat builders

UK Export Finance support unlocks new contract to export fishing boat to Ireland

  • Parkol Marine Engineering, a family-owned business, was established in 1971 and is renowned for its quality vessels
  • A new 23-meter ship is the second to be built as part of a Bond Support deal worth £3m from UK Export Finance
  • The ship will be launched today at its Middlesborough site and transported to Ireland

Family-owned shipbuilder, Parkol Marine Engineering, has announced the launch of its new vessel, Green Isle, which on completion will sail to the west coast of Ireland from Middlesborough, marking its expansion across the country. The boat is the second to be built as a result of a new £3m Bond support package from UK Export Finance (UKEF).

The contract is the second exporting win for the business, with the first contract secured in 2020 for a 27-meter fishing trawler commissioned by Irish fishing company D&N Kirwan. UKEF’s Bond Support deal has helped Parkol and NatWest to provide security for the Buyer’s stage payments in the form of advance payment guarantees.

 

Louis Taylor, Chief Executive of UK Export Finance said, “The United Kingdom is charting a new course as an independent trading nation and maritime businesses are crucial to driving the Global Britain we are building towards. Now UKEF support is helping shipbuilders like Parkol to harness the benefits of maritime trade and to grow their business through exporting.”

The support from UKEF reiterates the government’s support for the UK’s maritime industry. Launching its new shipbuilding vision earlier this year, the government committed to investing over £4bn to support shipyards and suppliers across the UK, with new measures including better access to finance and vital skills-building.

 

Sally Atkinson, Director of Parkol Marine Engineering said, “Exporting has opened up new opportunities for our business. Thanks to UKEF’s support, we’ve unlocked another major contract and expanded our business in Ireland by delivering a high-quality vessel. We’re looking forward to continuing to capitalise on our exporting potential and reach new markets.”

 

Simon Heighes, Trade Director at NatWest said,“NatWest were once again delighted to support Parkol in partnership with UKEF on this second trawler export. As with the deal in 2020, the provision of the bonding facility facilitated a vital and timely injection of working capital in to the business. We very much look forward to assisting Parkol to fulfil future export contracts and continuing our support to many other exporters in the region”

 

Export, Midlands News, News

UK’s Sigma Connected launches new South African venture

Respected UK business outsourcing firm Sigma Connected has announced its entry into South Africa’s domestic market in a move which will create up to 1,000 new jobs in the Cape Town area.

The Birmingham-headquartered company, which offers ‘white label’ customer contact centre services to a variety of industries including the utilities and financial sectors, has launched Sigma Connected South Africa, with a focus on solely serving the South Africa’s domestic clients.

Led by newly appointed Managing Director David Neale, the venture will support businesses in the telecommunications, retail, insurance, financial services, government and logistics industries.

In a unique move, the launch of the new business will see Sigma Connected becoming the first outsourcing business in Western Cape to open a state-of-the-art contact centre in the Cape Town township of Mitchells Plain – with well over half of the workforce being recruited through Impact Sourcing, which gives opportunities to those from disadvantaged backgrounds. A second office will also open in the Cape Town suburb of Woodstock.

Gary Gilburd, CEO of the Sigma Connected Group added: “As a Group we are expanding at a fast pace on an international scale.

“Led by the hugely experienced David Neale, the launch of Sigma Connected South Africa perfectly complements our plans to move into new regions but most of all, it allows us to bring our global outsourcing and contact centre experience to support South African businesses grow and thrive. Being able to take jobs to the people in the Mitchells Plain township is also an important and ground-breaking part of our plans.

“Being part of the Digicall Group gives us a unique position in the market and will allow us to hit the ground running.

For more information on the Sigma Connected Group and its services readers can visit www.sigmaconnected.com

 

Education, Export

Welsh businesses urged to take share of £1m export funding boost

The Institute of Export & International Trade (IOE&IT) has announced that it has made over £1 million in funding available to help British businesses to export.

The IOE&IT launched the International Trade Accelerator Voucher scheme which can help Welsh businesses large and small through access to their world class training, consultancy, and educational services. Each voucher issued is worth £1100 and can be redeemed against the wide range of services that the IOE&IT offers.

Marco Forgione, director general of the IOE&IT hailed the new voucher scheme as a “landmark moment” for businesses who look to trade internationally.

Logistics and transportation of Container Cargo ship and Cargo plane with working crane bridge in shipyard at sunrise, logistic import export and transport industry background

The International Trade Accelerator Voucher scheme is available to all UK based businesses regardless of their membership of the IOE&IT. The purpose of the scheme is to accelerate understanding, efficiency, and risk reduction in international trade.

Forgione said: “We have committed over £1 million to the International Trade Accelerator Voucher scheme to equip businesses with the expertise and skills they need to trade internationally. We believe in a vision of a global Britain that exports to the world and we back the Government’s ambitious plans to reach £1 trillion worth of exports by 2030. We want businesses to be able to take advantage of all the trade deals the UK is negotiating around the world.”

“However, we have seen a decline in the number of companies exporting in the past 12 months as highlighted by the latest edition of our UK Export Monitor, that’s why the launch of this scheme is so important right now.”

He continued: “The IOE&IT is a charitable organisation established over 85 years ago and our objective remains the same to this day, to support UK businesses in growing their trade in international markets. We believe the International Trade Accelerator Voucher scheme will be the catalyst to kickstart this growth. We have the knowledge and expertise at the IOE&IT to ensure British businesses are equipped with the skills to trade confidently and compliantly with the rest of the world.”

Applications for a voucher can be completed online at the IOE&IT website here. Upon acceptance applicants will have their voucher details emailed to them within 24 hours. The voucher can be used immediately and will be valid for 365 days to be used against any of the world class training, consultancy or education services that the IOE&IT offer.