Search still on for best export idea - deadline extended to 31 January

Date published: 23 January 2012

Clive Drinkwater, Regional Director of UK Trade & Investment (UKTI) in the North West, has called on small and medium firms (SMEs) across the region to make 2012 the year for exporting – and to get their applications in for a chance to win a top prize of over £5,000 worth of research and support for their business in time for the new extended deadline of Tuesday, 31 January.

The competition aims to encourage more businesses to export by offering a comprehensive package of support to the company with the best new export idea.

The overall North West winner will receive UK Trade & Investment (UKTI) support worth £5,000 and three grants for overseas travel to their target markets, plus expert business knowledge and insight from sponsor companies HSBC and PwC.

SMEs now have until Friday 31 January to submit their entry. At the end of March shortlisted companies will be invited to present their big export idea to a live audience of business leaders and a judging panel who will then select the winning idea.

Mr Drinkwater said: “The North West’s future prosperity will not come from domestic markets alone. Across the world there are markets that are showing strong, long-term growth. We want to make sure that UK firms are not just trading abroad but thriving there.

“I am determined to drive up the number of exporters in the region during 2012 and as it’s the only way for the economy to grow.

“There is demand all around the world for products and services from the North West but too many of our smaller firms are missing out on these opportunities, and UKTI have the expert staff and the relevant support packages to help them take the first step. All they have to do is pick up the phone and ask to speak to an international trade adviser.

“And for small companies with a big export idea, our competition, with the fantastic prize on offer, could be the springboard to international growth that you need. We’re very keen to hear from you, particularly if you’re new to exporting or relatively inexperienced. Just tell us – in 200 words – what your idea is, why it’s workable, and why now is the best time to take it to market.”

Alison Lever, private business partner at PwC in Manchester, said: “Export is critical to lifting the UK out of the economic slump and creating British jobs. By increasing the number of companies who export by roughly a quarter, about £36bn could be added to the UK economy. Clearly, the many SMEs based in the North West have a big part to play in this. In our recent survey of private businesses, over half of the Northern companies surveyed said they expected to expand into new geographical markets as a key proponent of their growth strategy.

“There has been a perception that exporting is only for large companies, but there are plenty of examples of small companies in the region who have taken the leap, overcome the challenges and are now reaping the rewards of exporting. Hopefully, with initiatives like this one we will see many more North West companies making their dreams of exporting a reality.”

David Beaty, HSBC Regional Commercial Director for the North West added: "For many companies looking to thrive while the current UK economic climate is challenging, broadening their horizons and considering the opportunities that trading internationally could bring might be the natural next step. It can be daunting when entering into a new market, but HSBC and professional advisers can provide essential support and local knowledge. This competition is a great way for those considering exporting to dip their toe into the water with £5,000 of support behind them.”

To find out more about the Export for Growth Prize and download an entry form, visit www.ukti.gov.uk/exportingforgrowthprize