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 26 July 2008
Department for Innovation, Universities and Skills (DIUS)
 
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Investigating new overseas markets

Tailored help for specific markets

Purpose

To strengthen UK productivity growth and future economic prosperity by overcoming barriers faced by UK businesses and sectors in specific overseas markets, which would otherwise limit the benefits gained from international trade.

How will this be achieved?

Provision of tailored information and help for UK based companies and sectors to overcome barriers to business in specific overseas markets.

Why offer public sector support

Access to potential opportunities in markets for differentiated products and services depends significantly on information flows mediated through social networks, and in some sectors also through government to government networks. Firms or sectors seeking to enter a new market face barriers in gaining access to the relevant networks and information if they do not have support from a trusted intermediary who can facilitate access to appropriate contacts. Reputation benefits of promoting and showcasing UK capability are not fully internalised by individual firms, and warrant public subsidy.

What will be offered?

Tailored information and other help in specific markets, for individual companies and for sectors or other groups of UK business for collective benefit, drawing on the commercial sections in UK Consulates, Embassies, and High Commissions overseas. Tailored support is normally charged, for all sizes of firm. Limited financial support towards the cost of participating in overseas visits and trade shows is available to eligible SMEs.

Support will comprise:

  • Charged services can include tailored information or help in gaining access to key contacts, either for individual firms or through group events. Services provide individual or groups of companies with information on local market conditions, market entry strategies, or help in gaining access to key contacts, or in overcoming barriers to market access;
  • Grant packages to cover part costs of participating in overseas missions;
  • Grants towards exhibiting at Overseas Trade Shows for eligible businesses.

Who will be eligible?

Support for market introductions is open to all UK registered companies.

Support for market visits or for exhibiting at overseas trade shows – businesses falling within the EU definition of an SME and working with one of UKTI’s International Trade Advisors or equivalent and engaged in a trade development activity.

Support for sector events and for group delegations to overseas exhibitions is prioritised in accordance with high level strategic priorities identified, and in accordance with strategic marketing plans for individual sectors.

 

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