As an essential part of the UK economy, medium-sized businesses (MSBs) must lead the charge towards global growth
The CBI and BDO report, Go Your Own Way, examines the journey of MSBs from non-exporter to global business. Although not all MSBs will be in a position to expand internationally, those that have the potential should be encouraged to export and invest abroad.
Successful MSBs that are active globally demonstrate that these businesses have the potential to attain great international success by completing the journey to become a global business. In Go Your Own Way, the CBI and BDO examine the journey from non-exporter to global business across five stages:
- First Steps: building the knowledge and confidence to go abroad
- Second Steps: practical knowledge of doing business overseas
- Third steps: from successful exporter to international business
- Fourth steps: investing for greater rewards
- Final steps: becoming a truly global business
At each stage along the journey, the report examines the barriers facing businesses and offers advice on overcoming these challenges. It also offers a set of conclusions for both the private and public sector on ways to increase knowledge of opportunities, fine-tune and improve awareness of government support, and incentivise expansion into new markets.