Export ambitions boosted by DIT Internationalisation Fund
Businesses seeking to grow exports can gain match-funded grants of up to £9,000 available from the Internationalisation Fund through the Department for International Trade.
The application process is streamlined to make applying quick and easy, and each SME is assigned a dedicated International Trade Adviser to help them through the process and plan future activities. More information on the fund is available through www.great.gov.uk.
Grants can be used to support a wide range of consultancy and international commercial activity including PR, translation services, market research, IP (intellectual property) advice, developing international social media and SEO. The cash can also fund market development including trade shows, overseas visits, investigating routes to market and overseas business environments, and due diligence for export.
The Department for International Trade (DIT) has played a key role working with Chocolat Madagascar above in 2013, and continues to help him promote the product around the world.
Two companies that have benefitted from the Internationalisation Fund through the Department for International Trade, food and drink (Chocolat Madagascar) and health and tech (Xploro) see videos below
Lynne Gillen, DIT’s Export Manager for Lancashire explains: “a key growth area for SMEs is investigating and investing in new overseas markets. The Internationalisation Fund is designed to help them secure financial and professional support to assist with their international plans and growth aspirations.”
Joe Murray, Group Chief Executive of specialist engineering company Precision21 Ltd states: “With help and guidance from the Department for International Trade, we found the application process clear and straight forward. We are looking forward to seeing the benefits of the project. The DIT Internationalisation Fund is great way to expand and develop your export activities.”
Lee Whittaker, Head of Sales at aerospace company EDM Ltd adds: “The internationalisation fund application process was really simple, and we gained approval after a short period. The fund has supported EDM’s overseas marketing budget allowing the business to expand its activities and increase exposure in the industry.”
The £38m Internationalisation Fund for SMEs in England aims to help 7,600 SMEs to internationalise. The fund is supported by the European Regional Development Fund (ERDF) and is managed through four regional projects: The Northern Powerhouse Internationalisation Fund, Midlands Internationalisation Fund, South Internationalisation Fund and London Internationalisation Fund. SMEs can apply for match-funded grants of between £1,000 and £9,000 to support proposed future activities (subject to eligibility).
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