New research suggests that a large proportion of UK small and medium-sized enterprises (SMEs) are interested in broadening their horizons and expanding overseas in the years ahead.
A recent survey conducted by SME news website smeweb.co.uk found that the majority of small businesses here in the UK have aspirations of one day branching out into international markets.
Going into 2018, firms told the survey that they would be looking into overseas expansion, moving to larger premises and hiring new members of staff – should their growth plans go according to plan in the coming months.
The research found that 15 per cent of SMEs felt that expanding into multinational markets was a key part of their intended growth strategies.
It also found that, although Britain’s vote to leave the European Union (EU) dealt a temporary blow to SME confidence last year, the majority of firms have since bounced back and almost half (46 per cent) now view the UK’s eventual withdrawal from the EU as an opportunity for their organisation in terms of growth.
Two in five small businesses added that they are anticipating substantial growth and expansion for their organisation in the three months ahead.