£1.1m training fund gives helping hand to UK exporters

British exporters are being offered a helping hand with a training and consultancy package to help them boost their businesses.

They are being given access to a £1.1 million programme to help them trade more effectively overseas.

The Institute of Export and International Trade (IOE&IT) has launched a voucher scheme, providing vouchers worth £1,100 to 1,000 businesses that want to either start or improve their exporting efforts.

Why is it needed?

The International Trade Accelerator Voucher scheme can help businesses access training, consultancy, and educational services.

Marco Forgione, the Institute’s Director-General, said that the initiative was in response to a fall in the number of UK exporters in the last year.

He said there was no one reason for the decline in numbers of exporters, citing COVID-19, Brexit, ongoing supply chain disruption and the sanctions after Russia’s invasion of Ukraine as all playing a part.

The institute’s latest export monitor found that in February numbers had declined by 521 to 61,005 compared with the year before. The number was also the lowest since January last year.

How does it work?

The £1,100 allows those taking part to buy a suite of tools and services without any obligation to spend any money with the Institute.

Last November the Government said that it wanted more British companies to trade overseas and to reach £1 trillion a year in exports by 2030.

Mr Forgione added that some companies were discouraged from exporting because they were not familiar with how to do it.

He said: “Businesses can see international trade as more complicated, more challenging and difficult than the reality. What they require is for any mystery, concern and doubt to be removed.”

He said that the institute had experts who could “demystify” trade, and how to trade “compliantly and effectively”.

How to apply

Applications for a voucher can be completed online at the IOE&IT website here. Upon acceptance, applicants will have their voucher details emailed to them within 24 hours.

The voucher can be used immediately and will be valid for 365 days to be used against any of the training, consultancy or education services that the IOE&IT offer.