Funding boost for GB export hopes
Source: North West Business Insider
Potential exporters stand to benefit from £13m of funding as the government looks to help 10,000 more British companies sell their products overseas.
The funds will go to UK Trade & Investment (UKTI) to help more companies make contacts and sell internationally.
The majority of the investment – up to £9m – will go directly towards boosting trade opportunities for small and medium-sized businesses.
The funding is designed to help more companies attend trade shows abroad through expanding the Tradeshow Access Programme.
Discounts will also be offered on the Overseas Market Introduction Service, which provides targeted market research and there will be increased support available for travel on overseas trade missions.
In addition, £2.5m will be invested in helping companies access and win some of the many high-value opportunities that UKTI has identified globally.
A further £1.5m will be used for projects attracting inward investment into the economy.
Business secretary Vince Cable said: "One of our major ambitions for growth is to boost UK exports: we have to excel in trade. Small and medium-sized enterprises are crucial to this challenge – over half of the monetary value of the UK's exports comes from SMEs."
He added: "This extra funding will help those businesses already exporting to go further and explore new markets, and help those thinking of exporting to make that crucial first step."
UKTI intends to double the number of companies it helps to 50,000 by 2015.