The Department of International Trade (DIT) is reminding businesses of the availability of the Internationalisation Fund (for those that are eligible). Lancashire-based SMEs are being encouraged to take advantage of the grant funding to aid international growth aspirations.
What is the Internationalisation Fund?
Launched in 2020, and running until March 2023, the Internationalisation Fund offers match-funded grants of between £1,000 and £9,000 which will be available for proposed future activities. To secure a grant, the business will need to fund a proportion of the fees itself, limited to up to 50% of the total cost.
Funding is subject to availability within your region and will be prioritised for businesses who can demonstrate they have high export potential.
What is the eligible activity?
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
Is your business able to apply?
In order to apply, companies must:
- be based in England
- be a small or medium sized enterprise (SME) with up to 250 employees
- have annual turnover which does not exceed €50 million or an annual balance sheet which does not exceed €43 million
- have no more than 25% of capital or voting rights owned by another company or companies if the collective total of the ownership group exceeds the threshold
- own no more than 25% of another company or companies if the collective total of the ownership group exceeds the threshold outlined above
It’s easy to apply. Register your interest with an International Trade Adviser who will check your eligibility, provide more details about the fund, and discuss your project whilst supporting you with the application. Find your local trade office to get started by clicking here.
Get in touch
If you would like more information about the Internationalisation Fund in more detail, or would like to discuss how it could benefit your business, get in touch with your usual PM+M adviser, or contact firstname.lastname@example.org.