Pictured:  Peter Hogarth, UKTI Regional Director for the East Midlands

Innovative small firms across the East Midlands are being encouraged to show they've got what it takes to "export for growth" by entering a new competition run by UK Trade & Investment (UKTI).

The new Exporting for Growth prize was officially launched by the Prime Minister and Lord Green, Minister for Trade and Investment last week. The competition aims to encourage more small businesses to take their products to overseas markets by offering a comprehensive package of support to the company with the best export idea.

The winner will receive UKTI support worth £5000 and three grants for overseas travel to their target markets, plus expert business knowledge and insight from sponsor companies.

Small and medium enterprises (SMEs) in the East Midlands have until Friday 13 January to submit their entry. Shortlisted companies will then 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.

Peter Hogarth, UKTI Regional Director for the East Midlands, said:

"The East Midlands exports goods and services across the globe and our latest regional statistics show we are on target to reach the highest exports in five years. But while it's right to shout about this success, the reality is that only a small number of SMEs export their products.

"Companies that export improve their financial performance, are more productive and are more likely to stay in business.

"There is demand all around the world for products from the East Midlands, both in our traditional markets and in the fast growing emerging markets with cash to spend, but too many of our smaller firms are missing out on these opportunities. That's where this competition, and the fantastic prize on offer, will help.

"If you're a small company with a big export idea, we're 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."

There will also be prizes for the second and third placed ideas, and all shortlisted companies will have access to professional mentoring support to develop their pitch presentation and time with a UKTI International Trade Adviser.

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

To find out about the range of support available through UK Trade & Investment to help companies achieve their overseas trade ambitions, call the East Midlands International Trade Hotline on 0845 052 4001.