The Commonwealth Games 2022 and Cheshire businesses
Chris Manka - FSB NW Regional Chair
The Commonwealth Games are coming back to Britain and will be hosted in Birmingham next year. It is a timely reminder of the benefits of being part of an association of 54 nation states, and a market of 2.4 billion people.
Post-Brexit, the UK Government is pursuing free trade agreements with Commonwealth partners as part of its independent trade policy. But how can this benefit businesses in Cheshire and Warrington?
With regard to the games themselves, Birmingham is close by. Many businesses in the West Midlands will have supply chains in Cheshire and indeed across the UK. The spirit of the Commonwealth is to be inclusive and welcoming, and such a high-profile event must be a focus for UK businesses as a whole.
For British companies, the Commonwealth provides a great opportunity for finding new markets. Aspects such as the laws and procedures are all based on systems British companies are familiar with, and English is widely spoken. The Commonwealth should be high on any potential exporter’s list, as we have so many of the basics in common.
The Commonwealth includes some of the most successful economies in the world: for example, Canada, Australia and Singapore are very well-run countries with a sizeable demand for quality goods and products. India, South Africa, Mauritius have some fantastic opportunities if your export strategy is right. Further, a lot of the key markets in Africa, such as Nigeria, Kenya, Ghana, and Botswana, are also making the news for the vast infrastructure investments being made there by other nations.
With 54 countries to choose from, a new market for your goods and services could be just around the corner.
Coming back to the UK, and Birmingham in particular, the Commonwealth Games next summer will bring together some of the best athletes in the world. There are always opportunities for business around such major events and, as they have become more professional in their execution, so have the requirement for support functions become more wide ranging.
In short, the games represent significant supply-chain opportunities and much, much more. Birmingham 2022 will be an ideal place for smaller companies to meet their counterparts in the Commonwealth, provide a golden opportunity to make those key contacts, build trade links and develop export potential – and, taking place in the UK, they will mean minimising the need for travel to scope out those export destinations, which is often a barrier to firms’ embracing international trade.
Don’t miss out! Start planning your journey into exporting now. Who knows where it could take you and your business?