Tech firms protest at delays in allocation of government export funding
UK tech firms have voiced concern at the government's commitment to allocating resources to small businesses wishing to establish an export presence.
The government’s Tradeshow Access Programme was intended to provide £10m to enable companies to attend overseas tradeshows and build an export presence but a four-month delay in funding has forced trade organisations to cease making any new travel arrangements.
According to Business Insider this could cost UK tech companies millions of pounds in lost business although every sector from fashion to life sciences finds itself in the same predicament.
The department for international trade had been due to reveal which companies had been successful in procuring grant funding in September last year but no announcement has yet been made.
One of the first casualties of these delays is the UK pavilion at MWC Shanghai after Tradefair, the body responsible for handling the export business of technology trade association Tech UK, said that the lag meant it was likely to pull the plug.
Despite such warnings, the government has yet to offer any guidance on when funding of up to £2,500 per company might be unlocked despite commitments to limit the negative consequences of Brexit.