Martin Davidian

UK “Micro-Multinationals” Growing Faster Than Domestic Small Businesses

UK “Micro-Multinationals” Growing Faster Than Domestic Small Businesses

31% of UK micro-multinationals –micro-businesses that open offices or hire staff in one or more overseas market – are growing at a rate of 11% or more, compared to just 21% of domestic small and medium enterprises in the same position, according to a report by FedEx Express. Surveying senior decision makers across 12 markets, the research found that 78% of UK micro-multinationals feel international trade is just as accessible for smaller enterprises and believe that you“don’t have to be big to be global”. 40% of UK micro-businesses operating abroad have opened offices in new markets in the last five years, one of the highest rates in the world, with three in 10 having increased overseas employee numbers. Different skill sets, technological benefits and lower overheads were cite... »