Over £1 million of government support to help York businesses export
May 20, 2022
Julian has welcomed new figures showing over £1.13 million has been allocated by the government to help York and North Yorkshire businesses start exporting.
This is the regional share of the Department for Trade’s Internationalisation Fund, providing match funding grants of up to £9000 for small and medium-sized enterprises to help them begin selling their products abroad. This pays for expert advice to overcome trade barriers and break into new markets, also covering exhibiting at trade fairs and other visits.
This funding, of which over £526,000 remains, is being distributed via the York and North Yorkshire Local Enterprise Partnership up to 31st December. Evidence suggests successful applicant business increase their export sales and create an average of 2 new jobs, while safeguarding 1 existing role each.
Increasing exporting can make a significant contribution to local prosperity, as businesses that sell abroad tend to pay higher wages and have higher productivity than those that don’t. Trading with new markets abroad also creates new jobs and secures the future of existing employment.
On reviewing the funding, Julian said: “Increasing productivity is the only real way to raise wages, and as exporting raises both it can make an important contribution to addressing the local impact of current worldwide cost of living pressures. I am therefore very glad this substantial support is available to help York businesses sell abroad.
The threat to growth from the covid economic shock and the Ukraine invasion mean the government need to be relentless in supporting businesses to expand, create new jobs and pay higher salaries. Boosting overseas trade in this way can make our local economy more dynamic and productive. I will continue pushing to ensure York enterprises have all the help they need to grow our way out of price pressures and secure a prosperous future for our city.”