61% of UK Businesses Prepared for Growth Opportunities in Emerging Markets
A UK survey from Barclays Commercial Bank has revealed how prepared UK businesses are to expand into new international markets, such as the so-called BRICS countries (Brazil, Russia, India, China and South Africa), which offer important growth prospects in a range of sectors and exposure to new potential customers. Feedback from across the country showed that Wales, the west of England and the Scottish borders respectively have the most understanding of the world’s major emerging markets, with 80-89% of respondents believing they are well prepared to manage the impact these territories will have on their business. Yorkshire, the north-east and the south-west of England followed closely behind. Before moving into BRICS countries, the bank makes a number of recommendations, such as know the currency and look at the general health of the economy; research the trade centres which are relevant to your business and get a feel for the sort of companies that operate there and understand how the proposed market and its customers like to do business.