BUSINESS NEWS
only focus on their domestic market as a means of achieving growth, according to a new survey by KPMG. In the survey, of 1,200 chief executives of
UK business is better at home U
K businesses are feeling increasingly confident about the British economy – so much so that they are planning to
businesses from ten countries, including 151 UK- based CEOs, international trade was placed significantly down the list of priorities of UK bosses, as confidence in the UK economy continues to grow.
‘At home the prospects for UK businesses are probably among the best in the world’
While 47 per cent of global CEOs said they were looking to invest significant capital into geographic expansion outside of their home countries, fewer than a fifth (19 per cent) of chief executives in the UK were looking at making an investment outside their domestic market. In fact, making capital investments outside of their home countries was the third most popular strategic priority for global CEOs, but was ranked just eighth for CEOs in the UK. The United States was listed as one of the
top two markets that all those surveyed saw as having the greatest potential for new market growth during the next three years – however, the 151 British CEOs said Western Europe was
Doing the business: The UK economy is one of the fastest growing
their overall top destination for new market growth, whilst global CEOs preferred China. Mike Steventon, Midlands regional chairman
at KPMG, said: “As the UK economy is among the fastest growing in the developed world it is unsurprising that UK CEOs are more bullish than their global counterparts. At home the prospects for UK businesses are probably among the best in the world. British GDP remains roughly in level with that of the US while outperforming the rest of Europe so it is easy to see why British CEOs would choose to focus on a healthy home market – with the
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advantage of being a home player rather than pursue higher growth in international markets where there are greater risks. “However, should situations in China and
Brazil turn the corner in the next 12-24 months, UK businesses will find themselves on the back foot if they then decide that they want a piece of the huge opportunities on offer. With the issue of the referendum of UK’s membership in the EU on the horizon, it does seem short sighted for our UK corporates to not be investing in global territories outside of our traditional trading zones of Europe.”
Wasps back the bid for culture title
England international and Wasps star Joe Launchbury is hoping to bring victory for Coventry as well as Wasps after having pledged his support for the City of Culture 2021 bid. A life-size cut-out of
the 6ft 6ins lock holding an ‘I’m Backing The Bid’ poster has been produced and is now on display for fans at the Ricoh Arena during Wasps match days. You can show your support
by tweeting ‘I’m Backing The Bid’ with a photo of yourself next to cut-out Joe and the hashtag #ThisIsCoventry.
Pictured: Kathi Leahy of Imagineer – a leading creative company in Coventry specialising in cultural events – is pictured with Rory Prentice from Wasps and the life-size cut-out
12 CHAMBERLINK FEBRUARY 2016
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