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Introduction
According to the latest annual research survey by the Department for Business and Trade on exporting, 28% of UK businesses surveyed admitted that their exporting knowledge was very low, which is up from 24% in the previous year. Research has suggested that there is a growing knowledge gap among exporting businesses following Brexit and the post-trade agreements with the EU. There are now only 18% of exporting businesses who consider themselves international trade experts, compared with 24% in the previous year.
The survey also found that overall awareness and uptake of government-funded export and international trade funding and support remained low and that due to barriers and knowledge with export procedures, only 27% of businesses are actively seeking new overseas market development opportunities.
With this in mind SMEs with no international experience and existing exporters are encouraged to access Government-backed funding and support, or from local providers in their region, in order to bridge their knowledge gap and gain confidence to explore new overseas market development opportunities to expand their businesses and increase their revenues.
What Are Some Of the Latest Overseas Market Development Opportunities Available?
i) Exporting Starts Here
Coventry and Warwickshire Chamber of Commerce is providing a fully funded support programme that aims to empower new-to-market and new-to-export firms in the local area with resources and insights for sustainable scaling into overseas markets.
Application Deadline: Applications are accepted on an ongoing basis
ii) UKSPF: Export Support
Bedfordshire Chamber of Commerce is providing support and grants to help businesses in the local area to grow their overseas trading activities and develop their export strategy. Funding is backed by the UK Shared Prosperity Fund.
Application Deadline: Applications are accepted on an ongoing basis
iii) Birmingham and Solihull Export Support Programme
Business Growth West Midlands is providing a grant scheme that will support projects that enable businesses to realise their export potential in existing and new markets, and to secure new international opportunities. Funding worth up to £6,000 is available.
Application Deadline: Applications are accepted on an ongoing basis
iv) Liverpool City Region Export Support
Growth Platform is backed by the UK Shared Prosperity Fund and aims to support businesses at every stage of their export journey in the Liverpool City Region. The support includes a business diagnostic tool which will help create an export action plan which will identify barriers, market opportunities, research needs and export funding requirements.
Application Deadline: Applications are accepted on an ongoing basis
v) Business Exporting Grant
Inverclyde Council is providing funding to local businesses to support export activities. Eligible activities include developing and implementing an exporting plan, attending overseas exhibitions and trade shows and producing documentation. Funding worth up to £5,000 is available.
Application Deadline: Applications are accepted on an ongoing basis
vi) International Trade Development Grant
Caerphilly County Borough Council aims to support Welsh SMEs to relaunch, develop, their import/export capabilities and grow with a view to driving Wales’ economic recovery. Eligible costs can include training, publications and subscriptions, certifications and accreditations, overseas marketing and visits to trade fairs and exhibitions. Funding worth up to £2,000 is available.
Application Deadline: Applications are accepted on an ongoing basis
vii) Acumen
InterTradeIreland is providing funding for SMEs to hire a salesperson who will help the company to increase their cross-border export sales on the island of Ireland, or for marketing research to help increase overseas sales. The scheme provides up to £17,250 towards the cost of a full-time sales role and up to £9,200 towards the cost of a part-time sales role. Northern Ireland businesses are eligible to apply.
Application Deadline: Applications are accepted on an ongoing basis
viii) Export Grants Fund
Telford and Wrekin Council provides a fund that aims to support projects that will enable businesses in the local area to explore export as a growth opportunity. Funding worth up to £3,000 is available.
Application Deadline: 28th February 2025
How To Apply For Overseas Market Development Schemes
Full details about how to apply for schemes and the eligibility criteria is available on each individual scheme page on the relevant website. Any deadlines, who can apply and what eligible costs the grants will cover will also be outlined on these pages. Interested businesses can speak to export advisors based at each provider who can guide them through requirements and eligibility criteria to see if the relevant funding is a match with their needs and help them to apply. There are also application forms and other supporting guidance available on scheme pages as well.
Want To Find The Latest Overseas Market Development Opportunities?
If you want to see the full set of overseas market development funding and support currently available, please visit https://getbusinessgrants.com/
