Scheme expands scope of export assistance
Grant support is now available to help UK engineering SMEs penetrate key overseas markets.
UK Trade and Investment has launched a new five-year strategy, which introduces the TAP scheme, replacing the SESA funding scheme.
Initially, only "new to market" and "new to export" companies were eligible for grant support.
However, recognising that new exporters would be unlikely to export to some of the more difficult markets, the EIA has lobbied long and hard for the assistance to be extended.
As a result, grant support will now be given to experienced SME exporters - ie those who are above the "new to export" threshold - to take part in exhibitions in a select group of countries and territories, provided they are new to the markets involved.
Eligible businesses will be subject to the lifetime limit of three grants counted from 1st April 2006.
Territories where "new to market" grants will be offered are: Brazil; China; Hong Kong; Taiwan; India; Indonesia; Japan; Malaysia; Mexico; Russia; Singapore; South Africa; South Korea; Thailand; Turkey; Vietnam; and the Gulf States (Bahrain, Qatar, Kuwait, Oman, Saudi Arabia and United Arab Emirates).
As a result, more cutting edge engineering SMEs will have access to the TAP scheme, which will provide access to GBP 10 million of funds, to help them access some of these more difficult but rapidly expanding markets.
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