Nearly half of all British organisations consider expanding overseas as important to their future operations, new research has revealed.
Expacare’s Anatomy of an International Business found that 43 per cent of companies based in the UK believe that in this globalised age it is imperative that they extend their reach further abroad.
While international trade and shipping allow for people from all over the world to access their services and goods, many UK organisations consider it vital that they have an actual physical presence in foreign countries.
Two-fifths (44 per cent) of respondents said that the main reason for considering moving overseas was for an opportunity to play a bigger role in the global market, while a third (32 per cent) stated that it was essential in “supporting a client’s international presence”.
“The research has shown that there is a firm trend for businesses to look beyond their borders in pursuit of growth, which is encouraging,” commented Beverly Cook, managing director of Expacare, an international health insurance organisation.
“It is fantastic that the government is doing all that it can to encourage businesses to look into the opportunities in international markets which will undoubtedly provide a boost to the UK economy.”
She added that businesses looking to head abroad need to ensure that they “look after their most important asset” – their employees.
“It therefore makes especially pleasing reading to see that businesses see international private healthcare cover as a priority in their expansion process,” Ms Cook concluded.
Corporations that offer employees comprehensive benefits packages are more likely to be successful in encouraging employees to take up an expat life, it was noted.
Other findings from the study included the overriding sentiment that a static base in a home country is no longer viable. Some 64 per cent believe that in the foreseeable future, many organisations will be operating their business in a truly global way.
Many already have an eye on emerging markets, with particular attention focused on the opportunities that Bric countries (Brazil, Russia, India and China) can provide. Interestingly, there seemed to be unanimity for places that companies felt were not viable for their business, including Switzerland (41 per cent) and South Africa (48 per cent).
While many are keen to grow internationally, a significant number are equally cautious, noting that such a development comes with challenges. Some 30 per cent said that a lack of knowledge about a country would be difficult to navigate at first, while 32 per cent were wary about how expensive such a move can be.
Cadogan Tate can help expats relocate their belongings to the UK with international shipping.