Tuesday, October 31, 2017

News: £7m funding for overseas trade for yorkshire SMEs

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Yorkshire businesses that are new to exporting or already selling overseas could be eligible for match-funded grants of up to £5,000 towards the costs of investigating new international markets.

Under the £6.7m European Regional Development Fund (ERDF) Exporting for Growth programme SMEs in the Leeds and Sheffield City Regions and the Humber LEP can access matched funding of up to 60% of the costs of developing exports.

Investment eligible for financial support under the programme, which is delivered by Enterprise Growth Solutions (EGS), includes overseas travel, international exhibition costs, language training and export consultancy. Registering products in new markets and developing internationally targeted marketing materials is also eligible.

In addition to the funding, companies will receive impartial and tailored advice from an International Trade Adviser who will be happy to assist businesses throughout the process and project.

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Over the next few years this project aims to engage with and support over 1,000 local SMEs to find new profitable customers in overseas markets, resulting in the creation of 750+ new jobs in our region.

Victoria Boldison, network manager of ExportExchange, a network for exporters in the region, said: "The new source of ERDF funding will be a great help for many small businesses in Yorkshire that are struggling to meet some of the costs involved in investigating and penetrating overseas markets. Finding the money to make that step is very often the catalyst that enables overseas trade, and we are looking forward to hearing more success stories as the Exporting for Growth programme becomes more widely known."

Export support is one of the types of business support brought together by the Sheffield City Region Growth Hub which acts as a gateway so that local businesses can access specialists in any field of business development: including innovation, exporting, accessing finance or training.

SCR Growth Hub website

Images: DSA Airport

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