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British Small Businesses Look To Expand Abroad

British Small Businesses Look To Expand Abroad

A new report has revealed that, since the British marketplace has become saturated, many small businesses are looking for new opportunities abroad.

The British market has become “saturated” and is forcing many businesses to look for new opportunities overseas, according to a new report by the Institute of Chartered Accountants in England and Wales (ICAEW).

The report showed that around 70% of small businesses are looking abroad to aid in their recovery after the most recent onslaught of the British economy.

David Cameron, the British Prime Minister, recently made a speech at the World Economic Forum in Davos, stating that economic growth could only come from more businesses establishing international trade. He went on to add that more emphasis needed to be put on manufacturing, exports, high tech and new greener industries.

The ICAEW have suggested that it is important for firms to focus their efforts on planning, processes and place before expanding their reach abroad as this is more likely to put them in a far better position to win new, international business.

The head of enterprise at the ICAEW, Clive Lewis, commented:

“The UK is an almost saturated marketplace. Economic growth will be delivered by SMEs and those that look beyond these shores to market their products and services. There are three key things to get right before exporting business though; the plan, the place and the process.”

Mr Lewis went on to add:

“There’s good news to support the prospect of growth from exports in the current exchange rates. UK exporters are enjoying an increasingly competitive position and more UK businesses are already choosing to exploit international markets to take advantage of the situation.”

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Discussion

5 thoughts on “British Small Businesses Look To Expand Abroad

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    Posted by Elvira Robida | February 21, 2011, 2:21 pm
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    Posted by Lambskin Rugs | February 21, 2011, 5:54 pm
  3. Keep on believing these polls and allow yourself to be pacified you bobbleheads because you think your side is winning.

    Posted by free dating online | February 28, 2011, 11:30 am
    • That is a very odd comment. You clearly didn’t read this article properly – did you in fact read anything on this site? In no way, shape or form, have I or any other business owner that visits this blog even suggested they are “pacified” or happy with the state of the economy or British business at the moment. I strongly suggest that if you want to pass a comment – at least attempt to understand the subject matter!

      Posted by BusinessAdvantage | February 28, 2011, 1:09 pm

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