Funding of up to £9,000 to help small businesses trade globally

SME businesses across York & North Yorkshire who are looking to expand into new international markets can now apply for up to £9,000 of matched funding from the new Department for International Trade (DIT) Internationalisation Fund.

“The Internationalisation Fund is a great opportunity for businesses in our region to take that next step with their export plans"

The fund has been designed to help SMEs who want to grow internationally and can be used to help with: market research, IP advice, translation services, international social media/SEO, trade fairs, independent market visits, consultancy and other international commercial services.

The fund is available for small and medium sized businesses based in York & North Yorkshire with under 250 employees (whereby no more than 25% of the business is owned by an enterprise which is not a SME) and with a project deemed eligible to internationalise.

Speaking of the impact that the Internationalisation Fund will have on businesses, Mark Robson, Head, UK Regions at Yorkshire and Humber said: “The Department for International Trade helps many businesses of all sizes across York and North Yorkshire to find and win business in new markets, using its network of International Trade Advisers and other support such as training through the Export Academy, events and missions and our teams around the world. We are committed to ensuring Yorkshire and the Humber businesses are able to take advantage of the new opportunities arising from the trade deals the Government are negotiating around the world.’

International Trade has always been a key driver of economic growth nationally and in the Yorkshire and Humber region. International trade generates wealth and jobs but has many other benefits as businesses that trade overseas tend to be more innovative and resistant to shocks such as those caused by the COVID-19 pandemic. The Internationalisation Fund has thus become available at a critical time for SMEs.”

Andrew Raby, Manager, York & North Yorkshire Growth Hub, said: “The Internationalisation Fund is a great opportunity for businesses in our region to take that next step with their export plans. The funding will enable them to access expert support and advice needed to achieve success in markets which may be unfamiliar to them. I would urge businesses to find out more about the fund and how it can help them by registering their interest online.”

The funding will be open for applications from businesses until the end of 2022. Businesses will have to complete an Export Action Plan to access the funding. This will be organised with an International Trade Advisor to advise and guide them through the process.

To find out more about the fund and for details of how to apply, please visit www.ynygrowthhub.com/how-we-can-help/import-export