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Criteria... INTERNATIONAL TRADE
The UK has a distinguished history of trading across the globe and the significance of the economic benefits associated with this were acknowledge by The Queen’s Awards right from the beginning. In 1966, when the awards were instigated by The Queen, companies would apply to win awards in the category of Export, Technology, or a combination of the both. The Export category was renamed in 2000 to International Trade and has remained as such. This ever- popular category attracts the biggest number of entries and in 2018, 152 companies won an award for their overseas trading activities. The general eligibility criteria for The Queen’s Awards can be found on the website https://www.gov.uk/queens- awards-for-enterprise/eligibility. Included below is a list of the additional criteria specifically for the International Trade award. Your company must:
l Have made a minimum of £100,000 in overseas sales in the first year of your entry and show year-on-year growth;
l Prove it has achieved outstanding growth in overseas earnings relative to your business size and sector; and
l Prove steep year-on-year growth (without dips) in overseas sales over three years – or substantial year-on- year growth (without dips) over six years. If you already hold an international trade award you can only apply for a new award for:
l Substantial year-on-year growth over six years if you’re in the fifth (final) year of your current award; and
l Steep year-on-year growth in overseas sales over three years if you’re in the second, third, fourth or final year of your current award.
www. queensawardsmagazine .com
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