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British companies trend towards expansion overseas
| Published: | 6 Dec at 6 PM |
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Recent research has shown that almost 50 per cent of British companies looking to expand are choosing overseas locations as key regions for their future growth strategies.
A survey by healthcare firm Expacare has shown that not only are British businesses looking to establish or strengthen already existing overseas footholds, they are convinced that expanding in the UK market is not worth their while. A significant number of respondents stated their motivation as being linked with global markets or an already successful overseas client base.
Exposure to overseas markets is, according to 64 per cent, likely to become commonplace in the future, with the survey concluding that there is a strong appetite for international expansion amongst UK businesses. However, lack of knowledge of overseas cultures and business practices and the high cost of setting up abroad are issues for a third of those surveyed.
Another obstacle noted by 20 per cent was the recruiting of new staff and the motivation of already employed key players to make the move. Incentives, higher wages and relocation allowances were seen as a negative factor in the push to expand overseas.
Of those surveyed, 34 per cent were already active in EU countries, with 39 per cent eyeing Scandinavia and 36 per cent looking further afield at rapidly emerging economies such as Russia, India, China and Brazil. The majority of those surveyed rejected certain countries out of hand, with 41 per cent mentioning Switzerland and 48 per cent ruling out South Africa.
A survey by healthcare firm Expacare has shown that not only are British businesses looking to establish or strengthen already existing overseas footholds, they are convinced that expanding in the UK market is not worth their while. A significant number of respondents stated their motivation as being linked with global markets or an already successful overseas client base.
Exposure to overseas markets is, according to 64 per cent, likely to become commonplace in the future, with the survey concluding that there is a strong appetite for international expansion amongst UK businesses. However, lack of knowledge of overseas cultures and business practices and the high cost of setting up abroad are issues for a third of those surveyed.
Another obstacle noted by 20 per cent was the recruiting of new staff and the motivation of already employed key players to make the move. Incentives, higher wages and relocation allowances were seen as a negative factor in the push to expand overseas.
Of those surveyed, 34 per cent were already active in EU countries, with 39 per cent eyeing Scandinavia and 36 per cent looking further afield at rapidly emerging economies such as Russia, India, China and Brazil. The majority of those surveyed rejected certain countries out of hand, with 41 per cent mentioning Switzerland and 48 per cent ruling out South Africa.
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