Tide, an SME-focused business financial platform, today announced the launch of the MSME Exchange Programme (MEP) – an initiative designed to glocalise (globally localise) entrepreneurship and foster bonds between small business owners from India and the UK. MEP will further strengthen cross-border ties between the two countries-Tide has been expanding its operations in the country as part of the India-UK bilateral trade relations.

The MSME Exchange Programme is said to be an industry-first initiative by any fintech company working in India’s MSME ecosystem. MEP will enable smaller entrepreneurs to widen and sharpen their business knowledge and ultimately to grow their businesses. Tide aims to unlock opportunities for millions of existing and budding entrepreneurs, including those who might want to export to and from India and the UK. 

Tide will choose two entrepreneurs or small business owners every quarter from India and the UK and sponsor them under the MEP to visit the UK and India. A total of 16 small businesses, 8 from each country will benefit from the programme. The programme starts on 1 June 2023 and ends on 30 May 2024.

"Tide is committed to championing small businesses and the MSME Exchange Programme is a huge step in this direction. We know that small business owners in India and the UK have shared ambitions, including exporting their goods and services between the two countries, which share historic ties. The MEP will deliver an exchange of ideas and know-how that small business owners from both countries can turn into concrete action,” said Dr. Oliver Prill, CEO (chief executive officer) of Tide. 

“Prime Minister Sunak and Prime Minister Modi have reiterated the huge opportunities that closer trade and investment ties offer British and Indian businesses and consumers. Our investment relationship already supports nearly half a million jobs in each other’s economies. Creating direct linkages between growing businesses from both countries will take us further. I congratulate Tide on adding to the India-UK success story,” observed Alex Ellis, British High Commissioner to India.

The MEP will offer Tide members from both countries information and knowledge exchange in the following areas: product, regulatory compliance, legal frameworks, entrepreneurship, ease of doing Business, and networking. 

“MSMEs are the backbone of India’s economic aspirations. Tide India is eager to act as an active enabler of small businesses and unlock the true potential of MSMEs. We are grateful to the British High Commission and the Indian Government for supporting us in this mission. We look forward to supporting those small businesses who will take part in what is a significant initiative by Tide,” commented Gurjodhpal Singh, CEO, Tide India.