An MP has welcomed the department for international trade’s push to support local SMEs to enter international export markets.

This can be done by accessing the department’s £38million ‘internationalisation fund’.

The fund seeks to support SMEs enter new export markets by 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 MP Neil Hudson’s constituency since the fund’s launch, £238,536 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 fund, or find out more about the fund, can contact the DIT North West Trade office by clicking here. 

Applications for the Internationalisation fund remain open until December 31, 2022. 

Dr Hudson 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.”