The purpose of the Internationalisation Fund is to assist 7,600 SME’s nationally to improve international trade performance through co-investment in approved activity. The Fund is supported by the European Regional Development Fund (ERDF) running from December 2020 to early 2023.
The Department for International Trade (DIT) has launched the new Internationalisation Fund (IF) for eligible SMEs based in England.
The Internationalisation Fund provides match-funded grants between £1,000 and £9,000 to use for future business activities (subject to eligibility and availability) aimed at helping SMEs grow in new international markets.
Advice from third party private sector experts to help SMEs prepare for international trade, which may include:- market research, market selection and entry advice, advice on Intellectual Property Rights, cross cultural negotiation support and standards, translation and cultural advice, international trade legal advice, PR support, international social media and search engine optimisation, international marketing, routes to market/agency advice, overseas business environment, and due diligence.
SME participation in Trade Fairs, Trade Missions and independent market development visits may also be eligible.
Ineligible Sectors: Steel, Coal (primary production), Shipbuilding, Synthetic fibres, Transport and related infrastructure, Energy generation, distribution & infrastructure, Primary Agricultural Production, Financial and insurance institutions, Schools/school age educational establishments, Nuclear, Airport Infrastructure, Fisheries, Aquaculture, Tobacco
Ineligible companies include those: likely to transfer operations overseas, with products that could cause offence or embarrassment to the UK Government, offering illegal products, breaching export controls
Ineligible expenditure: production/operational costs, direct subsidies, routine expenditure, capital expenditure, salary/employment costs, purchase of assets
Activities not supported include: DIT’s OMIS Service3, Transport and Logistics, Packaging production, Export insurance, Export documentation services, Sales agent’s commission, Export training leading to qualifications, Warehousing, Assets such as Intellectual Property, standards or accreditations, eCommerce platform registration fees, Production of Sales collateral
London and South East SMEs can attend one of the free virtual events to gain:
• An overview of the Internationalisation Fund and the eligibility criteria
• How they can use the fund to grow their business overseas
• What businesses will need to prepare for the funding application
• How to submit an application and the key deadlines
After the event, participants will be requested to populate an Internationalisation Fund Trade Review (IFTR) form and, if considered eligible and suitable for the fund, will be able to book a meeting with an International Trade Adviser (ITA). The ITA will help them prepare an Export Action Plan (EAP) and complete their funding application.
We have moved - visit our new website www.solentpartners.com