EDP Business Awards: Searching for the innovative firms doing international business
PUBLISHED: 12:00 26 June 2013
Who are the region's businesses making inroads overseas?
Sponsored by leading business advisors, Grant Thornton, the aim of this category is to recognise those individuals or teams who have transformed their ambitions to trade internationally into reality and a successful source of new business and growth.
In the Q2 2013 ICAEW/Grant Thornton UK business Confidence Monitor, businesses in the East of England have been reporting a general downward trend in export performance over the past two years. Annual growth in the most recent quarter stood at 4.6pc, down from 5.8pc in the same quarter a year ago and from a high of 7.2pc in Quarter 2 2011. However, annual export growth in the East of England still compares favourably to the UK as a whole, despite the difficult global trading conditions. World trade volume growth remains very slow in 2013 while recession continues in the Eurozone, where businesses in the East of England sent 56pc of their goods exports in 2012.
Despite this export environment, businesses expect to increase exports by 4.6pc over the next 12 months.
Richard Proctor, Practice Leader at Grant Thornton Norwich, said: “Many businesses are now looking beyond the traditional export markets of the US and the Eurozone and are focussing more on emerging markets. In the context of subdued growth in disposable incomes and reducing personal debt, many businesses recognise that growth is unlikely to be supported by quiet domestic markets”. “As a national firm supported by a major global network, Grant Thornton is pleased to sponsor the international business award, which recognises individuals and teams who identify and develop enterprising operations in the worldwide market”.
“The category shines a spotlight on businesses where an innovative approach has been taken to secure new markets for their products or services. Doing business in another country can be a daunting challenge as it often involves understanding different cultures and business practices. It is therefore helpful to the local business economy as a whole to highlight successful examples where business leaders have shown the vision and inspiration to address these concerns and convince overseas customers to ‘buy British’. ”
Find out more about this category and all the categories in this year’s business awards at the dedicated website – www.edpbusinessawards.co.uk.
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