Real Opportunities Exist in International Expansion
More than 300 European businesses across Europe - ranging from SMEs to major corporates - took part in the survey, published by the European Business Awards and HSBC Commercial Banking. Made up of the continent's leading businesses which have previously been recognised by the European Business Awards, this is the second biannual survey of the group which provides insights into the performance of European businesses.
The survey also captured renewed confidence, with more than half (52%) of businesses having either fully recovered or seen no negative impact from the recession. The research also found that one quarter of businesses (25%) will primarily look to Western Europe to expand internationally while nearly the same amount (23%) will seek trade opportunities in Eastern Europe - the same two most popular regions identified by businesses six months ago. Whilst a focus on Europe will support development of the region, businesses are potentially missing out on opportunities further afield and should be considering rapid growth areas to trade with.
John Casey, HSBC Head of Commercial Banking, Continental Europe, commented: " Despite their euro zone concerns, businesses are showing resilience, innovation and confidence by entering new markets and launching new products and services in a bid for expansion. Most businesses are still targeting Western and Eastern Europe for trade opportunities but, as HSBC's recent Trade Connections report has shown, real growth lies by trading internationally. With Europe's external trade volumes predicted to grow by 77% by 2025, compared to the world average of 73%, it is Europe's trade with wider international markets which will offer the greatest prospects for growth.
"Businesses must look at how they trade across Europe and consider how to adapt this globally. Germany, for example, has strong trading relationships with France, the Netherlands and the UK, but outside Europe is also fast growing its trade with countries in South America, the Middle East and Asia. All European businesses need to explore their opportunities to grow in not only their domestic market but on an international scale. "
Doug Mackay, Managing Director of Collingwood Search and Selection Ltd commented, "When the global economy took a sharp downturn in 2008/9, instead of lying down and accepting sales decline, many of our clients decided to invest in international expansion by either setting up new sales offices or manufacturing units or indeed bolstering their existing teams. Having delivered our Headhunting Services to set up companies globally for over 13 years, our consultants were able to advise on effective recruitment methods country by country thus giving our clients real confidence to progress their strategies.
Having successfully recruited for these companies in the UK we understood their culture, business strategy and, therefore, the calibre of candidates required for their international expansion to deliver results. Since 2008 around 50% of our Headhunting Recruitment Assignments have been delivered outside the UK involving the recruitment of English speaking locals. Investing in International Expansion has been key to our clients not only surviving the recession but ultimately in growing their revenues."
Having successfully recruited for these companies in the UK we understood their culture, business strategy and, therefore, the calibre of candidates required for their international expansion to deliver results. Since 2008 around 50% of our Headhunting Recruitment Assignments have been delivered outside the UK involving the recruitment of English speaking locals. Investing in International Expansion has been key to our clients not only surviving the recession but ultimately in growing their revenues."
