UK businesses are looking to overseas markets for growth this year, according to research by the American Express/CFO Research Global Business and Spending Monitor.
And this isn’t limited to large firms, many small businesses are also turning to countries as far away as Singapore and Brazil to promote growth.
The study finds that 17 per cent of companies will concentrate their efforts on foreign markets in 2013, making the UK one of the leading countries capitalising on international expansion opportunities.
India and China are the top two countries that UK businesses are most likely to target – with 33 per cent and 23 per cent respectively.
Brendan Walsh, senior vice-president of global corporate payments at American Express, said. “UK businesses pursuing a growth agenda recognise the huge potential of overseas markets. Clearly, this has led to a willingness to increase investments in business travel in the year ahead.”
Posted by the Secret Businessman