News Business News Help required for smaller businesses to achieve global presence | Help required for smaller businesses to achieve global presence |
| Friday, 30 November 2007 | |
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Smaller firms need support from the government if they are to achieve an international reach. The recommendation has come from the Institute of Chartered Accountants in England and Wales (ICAEW) and is based on the findings of its latest enterprise survey. The survey found that only 62 per cent of SMEs conduct business overseas, while just 41 per cent of micro businesses trade internationally. This compares to the 71 per cent of all UK firms that are participating in the global marketplace. Only a fifth of SMEs have a policy in place for attracting overseas customers, despite the development of international trade. Smaller firms also tend to see global markets as less important to their business development than do larger firms. Barely a third of micro businesses and only 27 per cent of small enterprises regarded overseas trade as offering a potentially positive contribution to their businesses. Michael Izza, chief executive of the ICAEW, said of the survey: “The pace of global change has accelerated and UK businesses realise that they must adapt quickly if they are to thrive in an increasingly global marketplace.” However, he added that government also had a role to play: “Small businesses want to take up these opportunities but need help to do so. We would like to see the new Department for Business, Enterprise and Regulatory Reform ensuring that globalisation is a top priority.” Database/website integration |
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