LONDON - Tuesday, 11. June 2024 AETOSWire
Accountancy network Kreston Global launches second ‘interpreneur’ report on finding global success as an SME
(BUSINESS
WIRE) -- Kreston Global’s newest interpreneur report reveals that small
and medium businesses across the world are bullish about their own
global operations and are prepared to harness disruption to drive
commercial growth at home and abroad. This comes despite macroeconomic
concerns around geopolitical disruption, slowing global GDP, and a
gradual decline in international collaboration which are dampening
commercial outlooks for many public companies and giving rise to
‘deglobalization’ concerns.
Now in its second iteration, the
Kreston interpreneur report is based on a survey across 14 different
countries of 1,400 ‘interpreneurs’ or business leaders of organizations
with revenue up to £300 million (approx. $372 million) who had
successfully expanded their business into international markets. The
research explores small-to-medium business global mobility trends, and
the strategies business leaders are using to navigate the commercial
pressures of global entrepreneurship today.
While interpreneurs
acknowledge the challenging macro-economic headwinds facing global
expansion, it is clear that the reward outweighs the risk. Almost all
respondents (96%) agree that global expansion has been of benefit to
their business, citing commercial growth across increased sales and
revenue (53%) and profitability (46%) as the top benefits.
Evaluating
their own international expansion journey, more than half of survey
respondents said their business’ primary motivation was to secure market
growth opportunities (52%), followed by a desire to gain a competitive
advantage by establishing a foothold in new regions before rivals (36%).
The biggest challenges faced were adapting logistics and supply chain
issues (41%), finding the right local partners (39%) and managing
economic volatility (38%).
Looking ahead, 87% of respondents said
they expect an increase in the number of businesses expanding overseas
in the next 12 months. The most popular destinations respondents said
their business would consider expanding into are Western Europe (52%)
and North America (48%). When evaluating what makes a country or region
most attractive for international expansion, respondents cited favorable
economic prospects (43%), favorable trade agreements (41%), and
availability of skills and talent (41%).
Notes to Editors:
About Kreston Global
Kreston
Global is one of the world’s largest accounting networks, representing
more than 160 independent firms in more than 114 countries worldwide.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240610536296/en/
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Contacts
Media Contact
kreston@infiniteglobal.com
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