Bermuda Exporters Eligible For UKTI Scheme
The Governor today, speaking to the Chamber of Commerce, announced that Bermuda businesses involved in export would now be eligible for a market support scheme operated by UK Trade & Investment.
The programme, Overseas Market Introductory Service [OMIS], can help companies at any stage of exporting, from finding new markets to setting up an operation in another country.
OMIS can help companies at any stage of exporting, from finding new markets to setting up an operation in another country. UK Trade & Investment – UKTI – has a presence in more than 100 countries. Among other things, this service can help find contacts and partners, suggest the best way to do business in a market; suggest a good strategy for entering a market.
The Governor added: “This is a service which has been available to firms from the UK itself. But I am delighted that, from now, it has been extended to companies from Overseas Territories. And I hope some companies from here will find it useful”.
As far as cost, the UKTI website says, “Costs are on a sliding scale. For example, a short report identifying potential distributors can be delivered from £500 [$837] upwards. A very comprehensive piece of work, or a number of activities in different markets, will cost more.
“In some cases the work plan may suggest additional costs which you will need to meet, such as venue hire or catering for an event. Any costs need to be identified in advance and agreed to before starting the activity.”
More details about UKTI’s services can be found here.
Your Excellence…
This is an opportunity or opportunities for the UK to make money from Bermuda, in other words, it’s new fertile business opportunities for the UK government from Bermuda. It is also a way to observe and extend their understanding on behalf of the HMCR, British tax collectors, the processes from Bermuda.
My question is, why isn’t our London office handling this for Bermuda? Why hasn’t our London office expanded into this area? For what we, the taxpayers, pay for the London office operations, where is value for money to the Bermuda taxpayer and why are they not able to assist us with minimal cost to the Bermudian taxpayer of the London office operations?
Why is the London office exclusively politically focused, whether it be with Labour or Conservative governments here in London?
Minister of Economic Development, where is the economic value to Bermuda of the London office rather than Bermudian companies handing money to the UK for this service? The Bermudian taxpayers should get better value for and/or from the London office.
We need to develop this ourselves with a politely diplomatic thanks but no thanks.
London, England
FINAL EDIT…
Your Excellence…
This is an opportunity or opportunities for the UK to make money from Bermuda, in other words, it’s new fertile business opportunities for the UK government from Bermuda. It is also a way to observe and extend their understanding on behalf of the HMRC, British tax collectors, the processes from Bermuda.
My questions are: Why isn’t our London office handling this for Bermuda? Why hasn’t our London office expanded into this area? For what we, the taxpayers, pay for the London office operations, where is value for money to the Bermuda taxpayer and why are they not able to assist us on such issues with minimal cost to the Bermudian taxpayer of the London office operations?
More staff, it is certainly a revenue generating operation.
Why is the London office exclusively politically focused, whether it be with Labour or Conservative governments here in London?n Where is its economic component or division that generates funds back into the public purse?
Minister of Economic Development, where is the economic value to Bermuda of the London office rather than Bermudian companies handing money to the UK for this service? The Bermudian taxpayers should get better value for and/or from the London office.
We need to develop this ourselves with a politely diplomatic thanks but no thanks to the UK.
London, England
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