AN investment of £90,000 could be made by Monmouthshire County Council (MCC) to an internet company.

The company Skutrade has chosen Monmouthshire as a ‘test-bed’ for a rollout of its new website aimed at encouraging global online trade.

According to a report published by Monmouthshire County Council (MCC) last week, the software would enable small retailers to compete on an even footing with large global organisations.

The new software will enable businesses to see where and how they can be competitive in relation to online competition and will provide an opportunity for businesses to market their services.

Funding will be taken from the Invest to Redesign council reserve to fund the project. The council intends to gather back the funding over five years through commissions generated from subscriptions to Skutrade.

According to analysis from council officers this should be repaid well within the five year timeframe.

Councillor Bob Greenland, MCC Cabinet member with responsibility for innovation, enterprise and leisure, said: “Skutrade will give vital information with those looking to trade on the internet.

“If expanding into the global market there are lots of unknowns such as the current exchange rates, postal costs and so on.

“Skutrade have developed an app that gives businesses accuracy to sell out into Europe and beyond.

“For Monmouthshire businesses we have negotiated a discount but we need a trial number of businesses to take it forward.

“This agreement is putting money where our mouth is. We’re going out and helping Monmouthshire businesses with technology.”

Further discussions must take place between senior council officers before the loan is approved. Cabinet met last month to show its support for the funding.