Hitachi Capital’s survey of 1,500 directors of small UK businesses revealed that most want to grow their companies in EU countries.
43% of small companies in the UK seek to expand their operations globally as the country expands its travel green list to 36 nations. However, the number of companies trying to enter the UK market has dropped from 81% to 77%, while UK firms looking to go international is up from 41% to 43%.
The number of businesses looking to grow internationally in the media sector surged from 52% to 62%, followed by the transport/distribution industry (48% to 58%). EU countries at 54% were the top expansion choice among business owners.
Also, 23% of UK businesses are seeking growth opportunities in Australia. Moreover, organisations that are thriving and situated in London are twice as likely to pursue international expansions.
[2 minute read]