Two schemes aiming to encourage local businesses to either start exporting or to expand their overseas trade have been launched by Malta Enterprise this afternoon.

One of the programmes – Go Global – is specifically aimed at would-be or novice exporters, while the Global Growth Competition is targeted at more established exporters. Both programmes are being supported through HSBC’s Malta Trade for Growth Fund.

The Go Global scheme aims to provide financial and technical assistance to 20 companies whose revenue from exports is less than 20% of their total revenue.

The assistance provided through the Go Global scheme is three-fold. Malta Enterprise will assign each company with an advisor who will draw up a free diagnostic report assessing its export readiness and identifying its key capability, research and marketing gaps.

The next step is a training programme consisting of an obligatory 3-session master class and an optional 4 sessions of training, for which enterprises will be charged a nominal fee.

Malta Enterprise will also facilitate applications for co-funding of projects aimed at building internal capacity and/or conducting international market research. The co-financing will cover 50% of expenses, capped at €10,000.

As the name suggests, the Global Growth Competition is a competition through which Malta Enterprise will choose 12 market development plans and provide financial assistance to implement them.

The competition is open to companies whose share of revenue from export activities exceeds 10%, and the projects that are eligible are the internationalisation of a new product or service, exporting an established product or service to a new market, or substantially boosting export revenue from an established market.

The plans should cover a 3-year period, and Malta Enterprise will reimburse 40% of the costs involved – 50% in the case of SMEs – in implementing them, up to a maximum of €30,000 per year.

The chosen companies would also benefit from assistance through an introductory workshop with ME, assistance through market research, an ME officer assigned to the company to monitor the plan’s implementation and access to personalised services through ME’s Tripoli and Dubai offices.

Applications for both schemes are available at export.maltaenterprise.com: Go Global applications must be submitted by 15 June while plans for the competition must be submitted by 1 July, either via email to [email protected] or by post to Malta Enterprise, Export Support and Clusters Unit, Guardamangia Hill, Pietà.