Eurotunnel has launched a new funding initiative that is aimed at encouraging more companies to transport goods between the UK and mainland Europe.

The ETICA (Eurotunnel Incentive for Capacity Additions) will provide start-up organisations with financial support, allowing them to get up and running.

Bosses at the firm said there is a common misconception that Channel Tunnel access charges are the biggest barrier for new freight companies to overcome and it is actually marketing and start-up costs that give businesses the most problems. The ETICA scheme puts enterprises in a much stronger position to deal with these expenses.

"Eurotunnel believes that its intrinsic strengths of efficiency and respect for the environment mean there is potential to further develop rail freight through the Tunnel," a statement from the firm read.

The ETICA project will be fully funded by Eurotunnel and will provide support for any rail company for one year.

Statistics recently published by the Department for Transport showed that freight traffic between Britain and continental Europe was up by two per cent in the first quarter of 2013 when compared with the corresponding period in 2012.