After significant success with its inaugural group of UK SMEs, the CommonwealthFirst initiative has opened applications for a second round of companies to join its ranks. CommonwealthFirst is the Commonwealth Enterprise and Investment Council’s flagship programme to support outstanding UK SMEs with serious ambitions and strong potential to trade and invest in Commonwealth markets, to realise such plans.
Building on the success of the first round, twenty-five additional SMEs will be selected to become Commonwealth Export Champions according to their innovative and flexible approach, potential for overseas growth and export-readiness.
The first cohort will be embarking on a trade mission to India to coincide with the UK India Technology summit 7th-9th November, which will be attended by UK Prime Minister, Rt. Hon. Theresa May. Those additional UK companies chosen to comprise the second cohort will have the opportunity to participate in a second trade mission destined for Malaysia and Singapore in spring 2017.
Lord Marland, Chairman of the Commonwealth Enterprise & Investment Council (CWEIC), the driving body behind CommonwealthFirst, said “At a time when UK trade is under the spotlight, it is very encouraging to see such high-quality export-ready small businesses coming forward to take part in this ambitious programme”.
Lord Marland further commented that “As well as organised trade missions, networking events, mentoring and advisory expertise, CommonwealthFirst brings together a wealth of organisations keen to make the programme a success”
SMEs can apply to become a CommonwealthFirst Export Champion via: www.commonwealthfirst.org. Applications close on 4th December and the second cohort will be announced in January 2017.
SMEs drive entrepreneurialism, promote competition and innovation, and are in many ways the backbone of the UK economy. But, when it comes to the export market, they are collectively failing to maximise their potential with respect to exporting abroad. The UK performs poorly when it comes to SME-generated exports compared to exporting countries of comparable size. And it is estimated that anywhere between 25,000 and 150,000 currently non-exporting firms in the UK could, and should, be doing so. Read more