Business and Innovation Projects. Funding. News - 02 November 2020

Financial support and expertise to boost overseas trading

A package of measures to help businesses in England build back better following the pandemic has been announced by the Government.

The Department for International Trade’s (DIT) Export Growth Plan provides additional financial support and expertise, some of which is targeted towards Derbyshire and Nottinghamshire based businesses.

The plan includes a £38 million Internationalisation Fund for small businesses, which will help up to 7,600 SMEs in England grow their overseas trading and strengthen their business.

Additional support for exporters will be provided by 64 new International Trade Advisers (ITAs), many of them working closely with Local Enterprise Partnerships (LEPs), who will lend their expertise to small businesses in the Midlands Engine, Northern Powerhouse and South West.

Head of Exports at DIT for the Midlands region, Ian Harrison said, “The Department’s recently launched Export Growth Plan will have a big impact across our region. Importantly, it will allow businesses in Derbyshire and Nottinghamshire to grow their overseas trade and help them recover from the economic impact of coronavirus. This package of measures will ensure Midlands companies are supported from the start, with more funding, more Trade Advisers and the establishment of the Export Academy to help businesses build back better.”

Internationalisation Fund

DIT is soon to release grants to help companies that have significant potential to grow their international sales. Match-funded grants of between £1,000 and £9,000 will be available for future activity for Derbyshire and Nottinghamshire businesses (subject to eligibility and availability).

DIT are now accepting expressions of interest so that as soon as the fund is made available, we can include businesses which have applied. The grants could cover the following areas:

  • Internationalising a website
  • Procuring translation services
  • International consultancy
  • International legal advice
  • International IP advice
  • Independent market visits or attendance at non TAP trade fairs.

Businesses looking for support can find out more here.

1:1 consultation with an International Trade Adviser.

DIT is offering 30 mins 1:1 video or telephone consultations with an experienced International Trade Adviser. If a business is experiencing issues in relation to international trade the DIT are here to help.

For details see here.

The Export Academy

Launched on 16 October 2020, The Export Academy is designed for owners and senior managers of businesses with a turnover of up to £500,000 to help build capabilities and confidence to trade internationally; and to overcome the challenges that businesses may face when they start to export.

Businesses can pick and mix which modules they would like to attend to find out how to understand customs procedures, export controls and documentation, getting paid, how to research international markets, pricing and distribution, export procedures, exporting goods and services and Incoterms.

Structured around free one-hour webinars, round tables and mentoring sessions, the Academy will give small and micro-businesses the opportunity to complete an export action plan, enabling you to take your business direct to international customers.

For details see here.

If you would like to find out more about the initiatives outlined above, please contact: Kerry Bailey, International Trade Adviser, D2N2, kerry.bailey@mobile.trade.gov.uk or call 07867 154 333.

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