Midland SMEs target export-fuelled expansion
ALMOST half (49%) of Midland businesses are exporting overseas – with more than half of these (26%) planning to expand during 2012, RSM Tenon has said.
The figures were collated using RSM Tenon’s Business Barometer, a quarterly survey of senior management in small and medium sized enterprises.
The accountants and business advisory firm said the figures would make welcome reading to Foreign Secretary William Hague, who last month told bosses to stop ‘complaining’ and start looking at doing business overseas.
The highest number of SMEs saying they intended to expand their exporting activity were based in the South (27%); this was followed by businesses in the Midlands (26%), the North (20%) and Scotland (11%).
However, in the same survey 48% of Midland businesses stated they do not have plans to export overseas.
Philip Coleman, international contact director based in RSM Tenon’s Birmingham office, said: “It is very encouraging that nearly half of all SMEs in Birmingham, and across the Midlands, are already exporting overseas – and that many have plans to do expand their operations in the future.
“But there are many challenges. Lots are understandably concerned about the sharp devaluation of the euro and many are waiting to see what happens with the current crises in the Eurozone. But despite this, I still think there could be some really interesting opportunities for UK companies overseas.
“My advice is for businesses to look beyond the immediate crisis, and to focus instead on the long-term opportunities. If they have value products or services there will be business opportunities, and I think there could be some good rewards for UK SMEs post the issues in the Eurozone.”
