One in three entrepreneurs to go global in 2012
But many fail to grasp the opportunities in exporting
Two thirds of UK entrepreneurs hope to grow their businesses by 10% in 2012 – but only one in three will prioritise international expansion.
According to research by RSM Tenon, many entrepreneurs are failing to take advantage of the opportunities in exporting, and less than a third believe international activity will significantly improve entrepreneurship in the UK.
However, the study – which included contributions from King of Shaves founder Will King and John Timpson, chairman of Timpson Group – revealed that the majority of international growth will be pursued within Europe and Asia.
The findings follow research from UK Trade and Industry (UKTI) which revealed that significantly more small businesses could export than currently do – stimulating UKTI’s National Challenge: Exporting for Growth initiative, in which RSM Tenon is a partner.
Philip Coleman, head of international business development at RSM Tenon, said: “Despite the on-going difficulties with the economy in Europe, I think that there are some really promising [export] opportunities for UK companies at the moment
“If entrepreneurs are prepared to look beyond the crisis and prepared to stay in for the long-term, then there could be some good rewards to be had.”