Santander’s business customers are being invited to connect with fellow SMEs and corporates following the launch of a new social network to promote international growth opportunities.

The Santander Trade Club has a potential audience of five million businesses globally. The aim is to establish import and export links and support opportunities for business growth.

The free service also gives users access to webinars, virtual trade missions and preferential prices on freight and translation services.

Research by Santander found that 14 per cent of businesses would like to trade internationally, but need more information to overcome challenges entering new markets.

For businesses with annual sales above £1 million, the figure rises to 31 per cent.

John Carroll at Santander said: “Businesses that trade internationally tend to be more resilient and are more likely to grow than purely domestic businesses.

“Users will be able to potentially connect to up to five million other SMEs and corporates across 13 countries, an invaluable facilitator for businesses branching into new international markets and looking to grow and prosper.”