FedEx announced the 10 finalists of their Small Business Grant UK competition last week. It is thought that 63% of the UK’s SMEs are exporting and making a significant contribution to the increase in international trade. It then falls to large businesses to help SMEs with internationalization, an apparent key challenge for the sector. Larger businesses can help smaller businesses reach their potential by helping them with international trade.
The Small Business Grant competition that is held by FedEx in the UK is expected to help smaller businesses. The winners of the competition will be announced on May 9th and the prize will be £20,000 for the winner of the competition and £10,000 for the runner-up. There will be a panel of judges that decide on the winners of FedEx’s competition which include The CEO of Tyrrells as well as David Prosser the Business Journalist.
The companies that have been shortlisted for the 10 finalists are the free-from food company The Beautiful Blending Co, Daughter of Soil the skincare products from Africa. Other finalists include Elderbrook Drinks which is a healthy cordial company, RSJS Studios Ltd which develop cufflinks using unusual materials, Lindsey Lang Design Ltd the homeware designer, the gluten free noodle range Mr. Lee’s Noodles, Bok Knives, Park Lodge International Ltd, Mwnki Ltd and Prim and Clover.
The competition is further to FedEx’s plans for helping smaller businesses tap in to international markets. The Small Business Grant will help companies expand on to the international stage and further expand their companies. Through the next stage of the competition, the finalists will be narrowed down further. The businesses will have to detail their international growth plans and a panel of judges will decide on the winner and runner up of this year’s competition.
This competition was started in the US in 2012 and has been able to help a number of different companies tap in to the international market. The competition is also run in Hong Kong, Singapore and Brazil as well as Germany, France and Italy.
