Mids companies need overseas vision, says report
Emerging market giants such as Jaguar Land Rover's Indian parent Tata are "stamping their names" across UK business according to a new report, which warns that UK rivals are not fighting back.
Produced by Birmingham-based wealth management business Williams de Broë (WDB), its author, head of research Jim Wood-Smith, said that British-based companies were "not capitalising on the rapid economic expansion of emerging markets". It added that UK companies generate on aggregate only 13 per cent of their revenues from the developing world.
In contrast, investment into the UK by emerging market companies was booming, said Wood-Smith. His report, Vision 2012, points to nearly £83bn being invested here last year by groups such as Tata – which owns Jaguar Land Rover, Corus Steel and Brunner Mond (formerly ICI), and Tetley Tea.
"Tata is just one example of the emerging market giants who are stamping their names on almost every area of business," said Wood-Smith.
"The dichotomy for multinational companies based in Europe is that while they grapple with low domestic growth, sovereign debt issues and banking crises on their doorsteps, their competitors based in China are hungry and ambitious."
