Penrith and The Border MP Dr Neil Hudson has welcomed the Department for International Trade’s push to support local small and medium-sized enterprises (SMEs) to enter international export markets, by accessing their £38mn Internationalisation Fund.
The Internationalisation Fund, an initiative from the Department for International Trade, seeks to support SMEs enter new export markets through overcoming the barriers to entry that they face, and facilitating access to third party support. While £467,832 has been allocated by the Government for businesses in Penrith and The Border since the launch of the fund, £283,536 still remains available for businesses to apply for.
In a recent letter to Dr Hudson and his parliamentary colleagues, the Minister for Exports, Mike Freer MP, noted that in addition to boosting their export sales, businesses who have successfully been granted the fund so far say that they will, on average, create two additional roles and protect a further existing role with that support.
Those who want to apply for the Internationalisation Fund, or find out more about the fund, can contact the DIT North West Trade office at the following link: https://www.great.gov.uk/contact/office-finder/?postcode=CA10+2PJ
Applications for the Internationalisation fund remain open until 31 December 2022.
Dr Neil Hudson MP commented: “I am proud that businesses, and the high-quality services they provide across many sectors, are at the backbone of Penrith and The Border. As such, it has been a key priority of mine to ensure that businesses across the constituency receive the financial support they need, to aid recovery from the coronavirus pandemic and the cost-of-living crisis. I very much welcome the Conservative - Government’s Internationalisation Fund to help businesses access new markets to do this, and encourage you to apply if you believe your business could benefit.”
