high growth market

Smaller Businesses Struggle with High-Growth Markets

A new survey by the British Chambers of Commerce (BCC) shows that smaller firms need more government support to help them trade with high-growth markets. The survey of more than 8,000 businesses suggests that UK exports are held back by a focus on traditional markets, such as the EU, at the expense of larger, faster-growing economies. When asked where they export to, 88% of respondents sell their products or services to the EU. This compares to 47% of businesses that export to BRIC countries (Brazil, Russia, India and China), and 55% to other Asian and Middle-Eastern markets such as Thailand and Saudi Arabia. However, while nearly three-quarters (73%) of large firms trade with BRIC countries, only a third (32%) of micro firms do business in these markets. John Longworth, Director General o... »