Partner Article

One North East broadening horizons with new funding scheme

Regional Development Agency One North East have announced a £1m programme to give greater aid to North East firms moving into overseas markets.

The “Horizons” project will aim to support companies targeting “high-growth overseas markets”, giving assistance through translation and export skills training.

The programme has been launched by UK Trade & Investment (UKTI), along with One North East and the European Regional Development Fund (ERDF).

International Trade Director for UKTI, David Coppock, said: “The Horizons scheme will be a welcome boost for North East firms wanting to navigate out of the downturn by seeking out new business opportunities overseas.

He added: “While the region performs well in international markets the actual number of companies that export is small, and most of our exports come from relatively few industries.

“That is why we want to encourage more companies to take up the export challenge, widen the range of goods and services that are exported and broaden the number of markets they are involved in.”

Ian Williams, Director of Business and Industry at One North East, said: “This new programme will support regional firms to access new markets abroad, which, at a time when many are still experiencing the knock-on effects of the recession, is more important than ever.

“Our track record of success in international markets is impressive and this additional £1m of funding will enable even more companies to expand their portfolios.”

To qualify for Horizon funding, businesses must have more than ten employees, and exceed £250,000 in turnover.

This was posted in Bdaily's Members' News section by Ruth Mitchell .