UK Trade & Investment Announces More Help for Small Businesses Keen to Export

UK Trade & Investment have announced new funding rules that will help small and medium-sized businesses (SMEs) to take part in more overseas trade fairs.

Gareth Thomas, Minister for Trade and Investment, said: “Small and medium-sized enterprises are the lifeblood of any economy. In difficult times, businesses need to be flexible and innovative and seek out opportunities where they exist. I’m delighted that UK Trade & Investment is backing SMEs by allowing them to explore more markets abroad.”

As a result of this increased assistance further alterations have been made to the TAP scheme which we think will assist business in the current economic situation. The changes include:

Grant Allowance

i) From 1 April we will increase the current three grants limit per company to six grants, provided that the company takes part in trade shows in more than one market.

ii) For the remainder of this year, businesses that have used their three grant lives by the end of last year will be eligible for one more grant at any event in the programme.

Company Eligibility

These changes to grant allowance will apply to SMEs meeting the following export experience criteria.
iii) SMEs will be eligible to seek grant support if either or both of the following applies:

• they are ‘new to export’ according to the UKTI definition;
• they have been exporting for less than 10 years.

If you would like more information please contact jane@sportsandplay.com