Over Half of UK Small Businesses Set to Enter New Markets by 2017
More than half of UK small and medium businesses plan to enter new overseas markets by 2017, with 34% looking to export and a further 30% hoping to tap into new markets in the UK, research by Albion Ventures has found. Of the 34% of firms that plan to expand overseas, the report found that 19% expect to export to markets outside of the EU while 15% are planning to stick to a single market. Medium-sized firms appear to be more ambitious than small companies when it comes to growth – 77% expect to target new markets in the next two years compared to 53% of small companies. In regards to sectors, manufacturing firms led the way with 75% planning to enter new markets, followed by marketing and advertising at 68% and IT/ telecoms at 56%. Regionally, London-based firms are the most likely to ent... »
