Securing support and funding to export
By Sharon Stathers, International Trade Adviser at the Department for International Trade (DIT).
Having joined the Department for International Trade (DIT) six years ago, Sharon has worked with businesses to support them with their global ambitions. The benefits of her support lay not only with her expert advice and guidance, but in the vast gateway of contacts and services she can introduce you to, whether it is to our overseas posts, global e-marketplaces, helping you draw upon the wealth of information from across the rest of the regional team or accessing the huge network of private sector export support partners we have.
What does DIT do?
We help businesses export and grow into global markets. We work with you to create an export strategy and then support you through the entire process, signposting you not only to all the contacts mentioned above but also a whole host of other support services, from free local workshops and trade missions, overseas market information services through to other grant programmes that might be of use. We also work closely with other organisations such the Chambers of Commerce, Local Enterprise Partnerships, Enterprise Europe Network and Trade Associations, all of which provide excellent support to companies looking to export.
What is the Exporting for Growth grant?
Exporting for Growth is a £5m European Regional Development Fund (ERDF) funding programme that can support Yorkshire companies’ international activities and projects. The funding is available in the Leeds and Sheffield City Regions as well as in the Humber region (Hull, East Riding, North and North East Lincolnshire). Whilst the funding is subject to eligibility, this is very quick and easy to determine.
How can it help companies grow?
The Exporting for Growth grants can help eligible Yorkshire companies develop their international business by helping to support the cost of activities. We find that market research is a common reason for applying for funding, and businesses can use funding for overseas travel to help with their market selection and development, attend or exhibit international trade shows or meet potential partners, distributors and customers. Sometimes it’s hard for businesses to justify the costs of travelling overseas and that is where this funding can be very helpful. We’ve had clients say that without the funding, they would never have attended an exhibition or met certain clients and would’ve missed out on incredible opportunities.
Including my colleague’s client; Leeds based Quality Bearings Online who have said: “Without the funding we wouldn’t have done it, because it would have been too expensive. It was great value because it allowed us to make a decision on South America that saved us money, but it also identified other marketplaces to us. So it was absolutely worth its weight in gold.”
I can’t stress enough that if you have a project in mind, speak to us as you might find that we can help you fund it. Our team are passionate about helping businesses and we’ll find ways to support your ambitions wherever possible.
Overcoming challenges to grow your business
What we have noticed lately is that a lot of companies are hesitating at the thought of doing international business and are holding off on research projects in other countries by applying the ‘wait and see’ approach. We completely understand that, but there are still plenty of opportunities to explore overseas markets without risk. The Exporting for Growth grant is incredibly flexible and can be used for a whole host of other tactical activities, such as marketing materials, website optimisation, translation, consultancy and much more. Our funding can even contribute towards Google or social advertising targeting overseas countries! All of these are important aspects of developing your international business.
How can I apply?
To apply for the Exporting for Growth grant, the first step is to talk to us. The application is a two-step process; the first step assessing your eligibility and the second is creating an action plan on how we can support your project. We need details and quotations to understand exactly how the funding is to be used, but this can be helpful for your own financial strategy planning too! Your ITA will help you throughout giving you advice and support to ensure your application goes through successfully.
We can process your application within a week providing all forms are correctly completed which is beneficial if you are working on a time pressurised project. It is important to remember that you must have your application approved before making any purchases or bookings though.
As it is a match-funded grant, you’ll have to pay for your purchases up front, and then at the end of your project claim for your funding. Once the claim is submitted, funds are paid within approximately two to three weeks.
Get in touch and find out more
All our International Trade Advisers come from a private sector background and have a wealth of knowledge and experience working with a wide range of different areas and sectors and can give you free and impartial advice on your export strategy. Please give me or one of my colleagues a call on 0300 365 1000 to find out how we can help.
