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 Advisors (ITAs), many of them working closely with Local Enterprise Partnerships (LEPs), who will lend their expertise to small businesses in the Northern Powerhouse, Midlands Engine and South West.
A new pilot Export Academy will also be introduced to support smaller businesses in the same areas. The Academy will deliver a series of activities to build the capabilities of smaller companies, creating a new cohort of confident businesses ready to trade.
Minister for Exports, Graham Stuart MP said:
“The Government is negotiating trade deals around the world and we are determined to help UK businesses take advantage of the markets we are opening. So, as part of the recovery from coronavirus, I am delighted to announce this funding and support, which will be invaluable to businesses looking to begin or continue their exporting journeys. In 2019 we overtook France to become the world’s fifth largest exporter and this package is a statement of our confidence in UK companies to grow the UK as an exporting superpower. The package will ensure businesses are supported from the start, with more funding, more Trade Advisors and the establishment of the Export Academy to help businesses build back better.”
These new measures are the latest in a series of measures already announced by DIT since the Coronavirus outbreak.
UK Export Finance (UKEF), the government’s world-leading credit agency, can help businesses grow their overseas trade and build back from the impact of coronavirus. UKEF is expanding its network of regional Export Finance Managers to help local businesses secure the financing they need to trade internationally by appointing renewable energy specialists to put SMEs at the heart of the global transition to clean energy.
Full list of measures below:
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