Gwent Business

UK firms shunning overseas business

2:47pm Friday 20th January 2012

Only one in five UK firms is planning to trade overseas, far fewer than in France or Germany, according to a new study.

A survey of 12,000 companies, including 2,700 in this country, showed that almost twice as many in France as in the UK are prepared to do business deals in foreign markets.

Workplace services firm Regus said UK firms are 'cold-shouldering' foreign expansion even though it could be good for their business, with exports playing an increasingly important role in the economy.

Around a third of UK firms require managers to be fluent in a local language, compared with 45 per cent in France and 57 per cent in Germany, said the report.

Regus regional director Celia Donne said: "Internationally-trading firms are faring better in the economic downturn than those who have stayed within their home markets.

"This applies to companies both large and small, and should act as a wake-up call for those still solely focused on domestic markets to find cost-efficient ways of moving cross-border to enhance earnings and spread risk."

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