Midlands business leaders will look to new markets, says PwC
Midlands business leaders know that they must look beyond the domestic UK and traditional markets to safeguard their futures. That’s according to a new survey by PwC, which suggests that the region’s business leaders are focusing on developing markets and “looking to innovation”.
The results of the 14th annual PwC Global CEO Survey implies that businesses across the UK are concentrating on the development of new products and services for future growth.
Mark Smith, regional chairman at PwC in the Midlands, said: “Midlands business leaders recognise that they need to be braver and specific in their focus on new markets if they want to compete in the global environment.
"Many of the UK’s traditional export markets are currently underperforming and, compared to their counterparts in other countries, UK CEOs see less opportunity for growth at home. The fact that our exports to the whole BRIC group of countries are roughly the same as those to Ireland is not a sustainable equation.”
One in four (20 per cent) of UK chief executive officers surveyed identified new geographic markets as the main opportunity to grow their business over the next 12 months. The figure rose from 14 per cent the previous year.
