Friday, 06 Dec 2013
New research reveals the benefits of doing business overseas
The research offers an insight into the ways UK businesses are doing business abroad today, and how businesses can thrive in today’s new era of internationalisation.
Bringing home the benefits front cover
Bringing home the benefits: How to grow through exporting
This publication offers a snapshot of the latest findings from UKTI research and shows that for many UK companies the decision to grow through exporting has paid off. The publication also shows that UK firms are increasingly venturing beyond traditional export markets such as Europe and the US and into high growth markets in Asia and Latin America.
The UK has always been a great trading nation and the evidence in the report shows that those companies that continue this tradition by thinking globally are likely to reap sizeable rewards. 58 per cent of entrepreneurs said exporting led to a ‘level of growth not otherwise possible’.
Discovering high growth: How UK SMEs are breaking into high growth markets
Across the world, high-growth markets are becoming increasingly important to UK SMEs across all sectors. Most economists agree that the biggest story of the twenty-first century will be a shift in the economic centre of gravity from the developed world to high-growth markets such as China, India and Brazil. The report captures a snapshot of how SMEs today are approaching these markets, and look at the difficulties in market entry as well as ways to overcome them. Companies of all ages and sizes are finding success in these markets, not just bigger businesses. Two in five small exporters (with less than 10 employees) already do business in at least one high-growth market.
Those SMEs that enter one high-growth market can find opportunities in neighbouring and other markets; a study found that almost one in three SMEs used entry into one high-growth market as a ‘springboard’ into another.
New markets, new ideas front cover
New markets, new ideas: How exporting fosters innovation and growth
The research findings captured in this booklet suggest that many British companies are embracing a new era of internationalisation. This can be seen in both an increasing number of companies doing business overseas and the rising number of firms that export from an early stage. The report also investigates the benefits business experience as a result of exporting including increased levels of growth, productivity and innovation. More young companies are grabbing international opportunities from an early stage; almost one in five (17 per cent) new companies currently active abroad are classified as ‘Born Global’ – so have been doing business overseas since the outset.
Many internationalised firms experience a ‘virtuous circle’ where exporting leads to new innovation, and where those innovations then lead to further exporting. Over half of all firms (53 per cent) said that a new product or service evolved because of their business overseas.
From surviving to thriving front cover
From surviving to thriving: Doing business overseas
This report was compiled by UK Trade & Investment, based on a survey conducted with the Institute of Directors’ Director magazine during July and August 2010.
Despite the global economic slowdown, the results of the survey show that the vast majority of exporters remain confident about the future and plan to export more over the next 12 months. Companies generally expect the number of countries they deal with to increase over the next three years, and having a British brand is regarded by most as an advantage when trading overseas.