Cumbrian businesses looking to expand their international trade profile are being urged to check their eligibility for grants under a new Government support fund.
Cumbria Local Enterprise Partnership (CLEP) is able to provide advice and guidance on the Internationalisation Fund, launched recently by the Department for International Trade (DIT).
The fund is designed to support businesses looking to grow their international trade. Eligible small and medium enterprises (SMEs) can apply for match-funded grants of between £1,000 and £9,000, which will be available for proposed future activities.
The fund can be used to support areas including, but not limited, to:
- Market Research
- Consultancy on IPR
- Translation / Cultural Advice
- Social Media and SEO
- Participation in trade shows
- Market development including visits
- Routes to Market
- Overseas Business Environment / Due Diligence
CLEP export manager Sarah Peak, who works on secondment from DIT, said: “The new fund could be a valuable source of support for our businesses looking to expand their activities in the international market place.
“To secure a grant, the business will need to fund a proportion of the costs itself. This varies according to where the business is based and will be up to 50 per cent of the total cost.”
Eligible businesses must be based in England and must be an SME with up to 250 employees.
No more than 25 per cent of the business can be owned by an enterprise that is not an SME and annual turnover must not exceed €50 million (or annual balance sheet exceed €43 million). The fund is supported by the European Regional Development Fund (ERDF).
Sarah added: “We’re here to help. We’d be happy to help check your eligibility, provide more details about the fund, discuss your project and support your business in making the application.”