Funding for overseas trade set to double

Funding for UK companies to exhibit at overseas tradeshows is set to “almost double” for the next two financial years, due to an increase in funding available to the UK Fashion & Textile Association. The trade body, which offers support to UK fashion

industry exporters, has received a commitment from UK trade and Investment (UKFI) to almost double the money available, allowing extra funding to be available for UK exporters looking to take part in key international trade shows.

UKFT increases international tradeshow grants

Grants for European shows will increase from 1,000 to 1,500 pounds per show and exhibitors at key US shows will see grants almost double to 2,000 pounds. For emerging markets, such as China, Hong Kong and Russia, companies will be eligible for grants ranging from 2,500 to 3,000 pounds.

Paul Alger, director of international business development at UKFT said: “We have been lobbying the Government for many years to maintain the Tradeshow Access Programme but this is the first time we have seen an increase in the money being allocated to the scheme. And what an increase!

“It is wonderful news that the Government has listened to our case and allocated additional funding to this vital scheme”.

In addition to the increase in grants, the list of shows covered by the grants has expanding to cover most key EU and US shows, including Paris Fashion Week, still the most important international showcase for over 300 UK designers, Curve Lingerie New York, and expanding to include CPM Moscow in August, as The Hub, a new menswear event for the Asian market in Hong Kong, and CHIC in Beijing in March 2014.

Alger added: “There has never been a better time for UK fashion and textile to look at new shows and markets. In particular, the grants we can now offer companies for shows in Russia, China and Hong Kong are the most generous we have had for almost 20 years.”

Image: UKFT Stand at Pitti Uomo, Firenze, Italy