AN IT company looking to launch a Monmouthshire base could be loaned £90,000 by its county council.

Skutrade is developing a program for UK-based online businesses looking to sell abroad and the council would seek for the money to be repaid over five years.

It approached the authority because of its various IT projects, including iCounty, and cabinet members gave the proposal their backing at a meeting on Wednesday.

The council’s deputy leader Cllr Bob Greenland said: “[Skutrade] came to us with a proposal which was – and I believe still is – unique.

"It’s particularly suited to Monmouthshire because of the number of small and medium enterprises (SMEs) that we have and the number of businesses that we are aware of trading on the internet using Google and Amazon.”

He said the company would help provide “vital information” for the county’s companies which would help their expansion outside the UK.

He added: “For example, you need to know the exchange rate; you will need to what prices maybe could be borne in that country and even down to the point of how much postal costs are going to cost you.”

As part of the deal 500 Monmouthshire businesses would enjoy a “significantly discounted subscription” for the software for two years, along with training, support and advice.

Further talks will be held between the company and the council’s chief officer in its enterprise department, Kellie Beirne, head of finance Joy Robson and cabinet members Cllr Greenland and Cllr Bryan Jones before the move gets the go ahead.