Joint British Airways and BritishAmerican Business Initiative to Support SMEs
(April 28, 2009: London) As announced in the Daily Mail, British Airways and BritishAmerican Business have launched a joint initiative to help Small to Medium size member companies wishing to expand their business abroad in the current economic climate, by providing member companies with international business class return flights.
Willie Walsh, British Airways’ chief executive, said: “Small and medium businesses are the backbone of the British economy and they are hurting badly. 120 of them close every week. We are working with UKTI and BAB to give flights that will support British business as it tries to spearhead the UK’s recovery. We live in a globalised economy so business opportunities don’t always live on your doorstep. This initiative gives small businesses the chance to promote and sell their products overseas.”
Peter Hunt, Managing Director of BritishAmerican Business, commented “our organisation is dedicated to helping our member companies connect and build their international businesses, and we think that this initiative of British Airways will be of great help to our small and medium sized enterprises in developing their overseas businesses, primarily between Britain and the United States.”
Qualification for Scheme and Application
This initiative is only available to member companies of BritishAmerican Business who comply with the criteria set out by British Airways. The member company using the flight is responsible for payment of any airport fees and government taxes and will be offered the opportunity to buy the carbon offset to cover their flight emissions.
Existing BritishAmerican Business members or companies interested in joining BritishAmerican Business and wishing to take advantage of this initiative should contact ba@babinc.org.
Definition of an SME
An SME is a company that has fewer that 250 employees, has an annual turnover of no more than approximately £24 million, or an annual balance sheet total of no more than approximately £16million. No more than 25% or more of the capital or voting rights may be owned by one enterprise, or jointly by several enterprises.
