Mayor of London Boris Johnson helps excessive progress companies set sights on worldwide enlargement
Greater than 40 per cent of London-based SMEs aiming to commerce internationally
London exports value £140bn to capital’s financial system
Fifty of London’s quickest rising corporations will be a part of the primary cohort of the Mayor’s International Business Programme, a brand new initiative launched at the moment to assist the capital’s excessive progress companies break into new worldwide markets or develop their present operations abroad.
The programme is led by London & Companions, the Mayor’s official promotional firm and part-funded by the European Regional Improvement Fund, and supported by business companions together with BDO, KPMG, PA Consulting Group, Benoy and London Chamber of Commerce and Business. It’s the first programme of its variety, utilizing peer-to-peer mentoring and personal sector backing, to assist London corporations to scale up and internationalise.
Corporations becoming a member of the programme span the know-how, life sciences and concrete sectors and embrace the likes of the transport app Gett, the city biking firm Blaze which is backed by Index Ventures and the Branson household. Different corporations becoming a member of the programme embrace Know-how Will Save Us, Kano, Adzuna, Grub Membership, Bloom & Wild, Massive White Wall and RealEyes.
The programme, launched by the Mayor of London, Boris Johnson MP, goals to help 800 excessive progress corporations based mostly within the capital over the subsequent three years to extend their worldwide enterprise potential.
The Mayor of London Boris Johnson MP, stated: “London has a robust heritage as a world buying and selling metropolis and our place on the centre of the enterprise world means the town presents the right springboard for corporations trying to increase internationally. London’s companies and entrepreneurs proceed to be on the forefront of innovation and creativity and I’ve seen first-hand the demand for his or her items and providers the world over. By serving to the capital’s companies turn into the subsequent international leaders we’ll see the creation of extra jobs for Londoners.”
Serial entrepreneur and mentor for the programme, Sherry Coutu CBE added: “As London’s know-how and artistic sectors proceed to develop, we’re beginning to see a brand new wave of excessive progress corporations. Worldwide enlargement is a key enabler in serving to us to supply extra UK companies of real scale. It is vital that we draw upon our present strengths from the massive variety of UK corporations who’re already worldwide success tales whereas eradicating the obstacles for the subsequent era of rising stars.”
Corporations becoming a member of the Mayor’s Worldwide Enterprise Programme will get bespoke recommendation and mentoring from a number of the world’s most recognised and celebrated companies leaders from throughout North America, Europe and Asia together with Sarah Wooden, Co-Founding father of Unruly and Kathryn Parsons, Co-Founder and Co-CEO of Decoded and Nilesh Gopali, Nation Head, India, cloudBuy.
Commenting on their causes for becoming a member of the programme, Bethany Koby CEO and co-founder of Hackney schooling know-how start-up Know-how Will Save Us stated: “Being based mostly in London has given us entry to an unimaginable group of formidable entrepreneurs who’ve been instrumental to our progress within the UK and internationally. There are increasingly more companies targeted on the significance of tech expertise for younger individuals and who’re enthusiastic about making and coding as a option to unleash their potential. I am unsure there has ever been a extra thrilling time to be constructing a learning-focused organisation within the UK, and we’re thrilled to be main the cost and championing EdTech on this subject.”
28 per cent of London-based SMEs are at present buying and selling internationally (importing or exporting) based on current analysis carried out by KPMG Small Enterprise Accounting. Nevertheless, greater than 40 per cent say they goal to be doing so inside the subsequent 5 years.1
Exports from London are a key driver of the capital’s financial system. Present estimates put the worth of London’s exports at £139.9 billion a yr, up from £60 billion a decade in the past2 and the capital is residence to greater than 1 / 4 (25.5%) of all corporations within the UK which might be exportingthree.
Gordon Innes, CEO London & Companions stated: “London’s improvements in know-how and life sciences are gaining worldwide recognition and the town has already produced international pioneers in areas reminiscent of fintech and digital well being. Drawing on the experience of our enterprise companions and entrepreneur networks, we now have designed a bespoke programme to assist London’s progress heroes meet their international ambitions.”
Separate analysis from KPMG, discovered that 47 per cent of worldwide CEOs want to make investments additional into geographic enlargement outdoors of their residence nations. The report surveying 1200 chief executives of companies throughout 10 nations, additionally discovered that over half of UK CEOs (58 per cent) stated that international financial progress is a number one situation impacting their corporations at the momentfour.
Kevin Smith, London Chairman at KPMG stated: “Doing enterprise in worldwide markets is completely very important for any small enterprise trying to develop however the place to start out and the way to discover out what alternatives are out there’s typically the most important barrier for enterprise house owners. KPMG is delighted to help the Mayor in his Worldwide Enterprise Programme serving to start-up companies in London by providing recommendation on the right way to export, connections overseas and entry to alternatives to construct confidence and gross sales. We consider we’ve got a task to play in serving to to make this journey as seamless as potential for the small enterprise proprietor with massive ambitions.”
Kim Hayward, Worldwide Liaison Companion at BDO, stated: “London is likely one of the command centres for the worldwide financial system however we can’t take its pre-eminence as a very international metropolis as a right. One of many essential areas for improvement is round serving to London’s companies increase overseas – particularly its extremely formidable and entrepreneurial mid-market companies. That’s why schemes just like the Mayor’s Worldwide Enterprise Programme are so necessary and can assist companies on the journey from robust home scale-ups to profitable exporters to worldwide companies.”
Colin Stanbridge, chief government of London Chamber of Commerce and Business: “LCCI has an extended and wealthy historical past of delivering commerce help and a number of other missions yearly as a part of a world community of chambers, and we all know that supporting SMEs with exporting is essential to assist them develop their enterprise abroad. LCCI is delighted to hitch the Mayor’s Worldwide Enterprise Programme and we look ahead to supporting the Programme in delivering occasions and missions.”
Colm Reilly, who leads PA Consulting Group’s financial improvement service stated: “It isn’t sufficient to speak about internationalisation. We at the moment are in a world the place particular International Provide Chains are growing in worth quicker than GDP in all developed nations. The Worldwide Enterprise Programme is about concentrating on these provide chains, indentifying the entry factors and permitting the suitable SMEs to scale shortly by being a part of this programme. The Mayor has created this programme to realize actual and tangible outcomes for enterprise and we’re delighted to have this platform.”
Tom Cartledge, International Director at Benoy commented: “Benoy is proud to be part of the Mayor’s Worldwide Enterprise Programme and is delighted to capable of share its international expertise with corporations taking their first and formative steps on their worldwide journey. Working in partnership with the Programme, Benoy is wanting ahead to encouraging and supporting British Enterprise in its endeavours within the worldwide market.”