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29 October 2010
Launch of the BDO Ambition Survey
The BDO Ambition Survey, conducted for the world’s fifth largest accountancy network, showed that companies are in optimistic mood, with 95 per cent of them confident about international expansion and two thirds (66%) planning to be more aggressive in their plans this year compared to last.
An index of cross-border attractiveness, or opportunities was developed, so as to determine which regions and countries offer the greatest opportunities in the very near future. The most popular destination for expansion remains China, and our index shows that the EU is probably still the easiest place to do business.
The international study which interviewed business leaders and international heads of globally aspiring mid-cap companies in 10 countries (Australia, Brazil, Canada, China, Germany, India, Netherlands, Russia, UK and USA) found that 47 per cent want to invest in BRIC markets and of those almost half (43%) say China is a particular focus. Europe tops the table as the region to provide the greatest opportunities for cross border growth in the next one to two years.
Researchers found that the opportunity to achieve market leader status (65%) and the ability to benefit from the size of a market’s population (77%) are key factors in successful cross-border growth.
Respondents were surprisingly less concerned about the challenges both red tape and corruption present, but instead felt that the keys to success when expanding abroad are people related: identifying the right local management and staff (62%), and finding a trustworthy local partner (59%). 40 per cent of respondents said they look to a trusted management consultant, accountant or professional adviser for on-the-ground advice when expanding into new territories.
India is a particular focus of UK and German businesses, with the latter also highlighting Russia and Brazil. US businesses too are eyeing Brazil in the near future. Australian businesses are unsurprisingly looking to South East Asia. The Chinese businesses surveyed are more global in outlook, claiming that they will be concentrating on Europe, South America, Africa, and closer to home (including India, Russia and South East Asia).
Click here to view the survey website.
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