Export Growth Plan to help businesses
A package of measures to help businesses in England build back better following the pandemic was recently announced by the Government.
The Department for International Trade’s (DIT) Export Growth Plan provides additional financial support and expertise, some of which is targeted towards specific regions that are most in need.
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
These new measures are the latest in a series of measures already announced by DIT since the Coronavirus outbreak.
Full list of measures included in the scheme are:
- New £38m Internationalisation Fund from 2020-23 for SMEs in England that will help 7,600 SMEs to internationalise. The fund is supported by the European Regional Development Fund (ERDF) and is managed through four regional projects: The Northern Powerhouse Internationalisation Fund, Midlands Internationalisation Fund, South Internationalisation Fund and London Internationalisation Fund.
- 64 new International Trade Advisers (ITAs) to provide direct support to SME businesses in the Northern Powerhouse, Midlands Engine and South West.
- A new, pilot, Export Academy to support smaller businesses in the Northern Powerhouse, Midlands Engine and South West who want to export.
- 24 new Overseas Champions across the world to promote trade and investment for the Northern Powerhouse, Midlands Engine.
- A refreshed cohort of over 100 additional Export Champions across different industries in England, to help promote and support exports.
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