Published on: 03 March 2022
British Marine members looking for funding support for their international activity can now take advantage of the Department for International Trade’s (DIT) new Internationalisation Fund.
Launched in 2021, the fund is available to businesses based in England* and provides match-funded grants of between £1,000 and £9,000 (subject to eligibility and availability) which can be used to support activities such as, but not limited to:
- Market research
- IP (intellectual property) advice
- Translation services
- International social media/SEO
- Independent market visits
- Consultancy and other international commercial services
The funding can also be used to help with costs associated with exhibiting at international trade shows such as METSTRADE (November 2022), the Monaco Yacht Show (September/October 2022), or boot Dusseldorf (January 2023). It is important to note however, businesses that have already committed to an event/activity cannot apply for the funds.
“The Internationalisation Fund is a great opportunity for those member organisations looking to grow their business in the international arena. It can provide valuable support to businesses who are interested in exhibiting at international shows, be it for the first time or planning for future shows,” commented Lesley Robinson, CEO, British Marine.
To secure a grant, applicants need to fund a proportion of the costs themselves, which will vary according to where their business is based and will be either 40 or 50 percent of the total cost. Successful applicants will be awarded the funds retrospectively.
Is your business eligible?
To take advantage of the Internationalisation Fund:
- The company must be based in England
- The company must be a small or medium sized enterprise (SME) with up to 250 employees
- No more than 25 percent of the business is owned by an enterprise which is not a SME
- Annual turnover does not exceed €50 million or annual balance sheet does not exceed €43 million
How to apply
If you’re interested in taking advantage of the DIT’s Internationalisation Fund, in the first instance you will need to contact your local DIT office to express your interest. Once your application has been submitted you will typically receive notification within a few weeks.
Find your local office here.
If you require any further assistance, please call British Marine International & Events Manager Johanna Sargeant –jsargeant@britishmarine.co.uk
* Excludes Cornwall and Isles of Scilly who have their own similar schemes in place.
The fund is supported by the European Regional Development Fund (ERDF)
