Entrepreneurs seeking foreign growth, says report
Almost 60 per cent of West Midlands entrepreneurs are planning to expand into overseas markets this year, a report from RSM Tenon has claimed.
Fifty-eight per cent of Midlands businesses questioned by the accountancy firm said they wanted to move into foreign markets, the second highest number in the UK.
More than 40 per cent said that increased opportunities internationally will be an important factor in improving UK entrepreneurship in 2012.
Stephen Newman, the West Midlands head of international at RSM Tenon, said: “The majority of entrepreneurs in the East Midlands are looking to Western Europe as a main source of growth in 2012.
"And growth areas will not just be in goods and services; 12 per cent said they will grow by acquiring overseas businesses."
The research was released in RSM Tenon’s report Lonely at the Top: The entrepreneurial challenge.
The survey suggested the highest number of entrepreneurs looking to expand overseas was in London (68 per cent).
