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Exporters more likely to increase profits than domestic firms
A new report published by Regus, the world’s largest provider of flexible workspaces, shows that UK firms trading internationally are two fifths more likely to increase profits than those sticking to the domestic market.
Based on a 3,000-strong poll of senior managers and company owners, the report found that 45% of exporters have increased their profits over the past 12 months compared with 31% of companies that trade domestically.
62% of businesses say Europe is the most profitable market for expansion, despite economic instability, followed by China (40%), North America (34%) and India (28%). A noticeably higher proportion of small businesses favour Europe (68%) and fewer are targeting China (35%).
The poll also canvassed opinion in relation to the perceived barriers to overseas trade.
Six out of 10 (58%) firms say paperwork and property costs are the biggest obstacles to setting up a physical presence abroad, followed by building an image (50%) and managing local taxation and regulation (47%). Recruiting suitable staff – at both operational and senior management levels – also emerged as a significant issue for many firms.
Steve Purdy, managing director of Regus, comments: “The Government wants UK exports to reach £1 trillion per year by 2020 and our report echoes the clear message that exporting is good for business.
“We see the findings of this report reflected every day in the changing profile of our customer base. Our enquiry rate from UK firms for workplace support overseas is at an all-time high, especially from small firms. In our experience there is certainly an increasing desire to trade with the emerging markets. This demand is precisely the reason that we are continuing to expand
Enterprise M3 launches new round of Growing Enterprise Fund
A new round of the Growing Enterprise Fund launched last month and was inviting organisations, across the Enterprise M3 area, to bid for a share of the £10 million pot earmarked for projects helping to create housing and jobs for local people.
The Growing Enterprise Fund was established last year by Enterprise M3, the Local Enterprise Partnership for the wider M3 corridor, to kick start infrastructure and other projects that will drive economic growth in the mid and north Hampshire and south west Surrey areas.
Projects that are suitable for funding from the Growing Enterprise Fund are those that will:
• Deliver economic growth, especially jobs and housing
• Enable development where there is proven demand
• Kick start or bring forward development
• Be delivered, and soon • Repay the loan quickly • Offer value for money.
Does your organisation have a potential project that may be eligible for the Fund? If so, download the Growing Enterprise Fund Prospectus and supporting documentation now available on the Enterprise M3 website.
You can also contact Rachel Barker at
funding@enterprisem3.org.uk as soon as possible to discuss its suitability and what Enterprise M3 can do to support your application.
The first closing date for expressions of interest is Thursday March 21, with additional dates throughout the year until the fund is allocated.
Details:
www.enterprisem3.org. uk/growing-enterprise-fund/
THE BUSINESS MAGAZINE – THAMES VALLEY – MARCH 2013
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our own presence across the globe, most recently opening in Rwanda and Cambodia for instance."
Maidenhead-based Business and Facilities, a facilities management consultancy, is an example of a firm that is reaping the rewards of an international approach.
Mike Liddle, managing partner, says: “We knew there was strong demand for our specialist services overseas from the outset of our business and we set out to take advantage of that. Firstly we traded with central Europe, then expanded into Eastern Europe, the Middle East and Africa as our experience, reputation and local partner network grew.”
He believes that many companies sell themselves short by ignoring overseas markets. “British skills are highly valued overseas. It is worth reassessing whether there is a market abroad for your services. Many of the traditional barriers to entry are now surmountable, especially in the area of property.”
Business THE TM MAGAZINE:DIGITAL
Read these stories in full in the current issue of The Business
Magazine:Digital at
www.businessmag.co.uk
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