HSBC has launched a £200 million fund to lend to small and medium-sized businesses in Kent.

The bank wants to use the cash particularly for companies looking to export.

A report by the Federation of Small Businesses last year said 21% of small businesses sell goods abroad but there is potential to double that figure with the right support.

The bank’s own survey of 1,000 small and medium-sized businesses, known as SMEs, showed many would be prepared to consider international trade.

However they were concerned about a lack of understanding of local markets, having little international business experience and problems overcoming language or cultural barriers.

The cash is part of a £10 billion fund it has launched to help firms across the UK and follows the success of an £8 billion fund it opened in 2015.