This weekend marked the last hurrah for Britain’s golden summer of the Olympics and the Paralympics, but how will these events impact on the UK business community? As well as the legacy for sport there’s also the wider economy to consider. While your business might have been worried about disruption during the Olympics, the legacy of the games will hopefully be far more positive.
Trade minister Lord Green and Olympics Legacy Ambassador Seb Coe have vowed to build on the sporting successes of Team GB by working with industry to promote British skills, products and services around the world. With the government embracing exports as a key way for the UK economy to grow in strength, especially through SME exports, this can only be good news.
An Olympics programme of trade missions, promotional events and export and marketing advice for UK companies will build on the success of previous summits. Indeed, the British Business Embassy programme of events concluded last week and has been viewed as a success.
Seb Coe stated; “The extraordinary success of the London 2012 Games has shown the best of Britain to the world and now our focus turns to securing a lasting legacy… We now need to ensure that organisation up and down the country use the positive impact generated by the Games to reach out to new markets and grow their business… We had a once in a lifetime chance to demonstrate British business excellence to the world, and we are making the most of the opportunity.”
So, while we won’t be able to make the most of the sporting entertainment any longer, there’s no end to the possibilities that the Olympic legacy might bring to the UK’s small businesses. This could be the push needed to make more companies make the most of the export opportunities and new markets that are out there.