How many businesses are growing overseas?
More and more businesses from all over the world are taking the leap into the international marketplace.
According to a new DMCC report, 42% of businesses in the United Kingdom are exhibiting interest in working overseas, particularly following the Brexit vote to leave the European Union. Business owners in the U.K. are hoping to expand into attractive emerging markets, while establishing a stronger global presence and accessing the wealth of available resources and talent that can be found abroad.1
Of course, U.K. businesses aren’t the only ones looking abroad. According to the United States Chamber of Commerce, 80% of the planet’s purchasing power, along with 95% of the globe’s customers, are found outside of the U.S. Experts know that profits are going to be found in the large emerging markets of the world, where a growing middle class is providing a market for a variety of services and goods.2 In 2016, 47% of businesses in the U.S. stated that they expected their profits from international activity to rise that year, and 87% of companies agreed that expansion overseas is necessary for long-term growth.3
Australian businesses are also finding that investing overseas can help them remain competitive despite the evolving trade landscape around the globe. The top locations for foreign affiliates of businesses include New Zealand, the United States, the United Kingdom, Hong Kong, and Singapore. And one-third of the country’s top 2,000 businesses have investments in an offshore market, with manufacturing brands investing in the highest number of overseas businesses.4