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November 14, 2011

EU business target new markets despite crisis

More than two–thirds of European businesses plan to invest in growth opportunities abroad next year regardless of the recession, according to a report by RSM International and the European Business Awards.

The poll, which surveyed more than 300 business leaders in small or multinational businesses across 32 European countries, found only 16% of businesses in Europe would not be pursuing any new markets but four of out five companies plan to enter at least one new market in the next year.

The majority (77%) of respondents said the main reason for expanding their business abroad is potential market size rather than to save costs.

“The survey reveals that the trend amongst successful businesses is about trading beyond your borders. Almost half of businesses agree that intra-European trade offers them the best opportunities,” European Business Awards chief executive Adrian Tripp said.

“It’s imperative that in these times of political and economical turmoil, European businesses can explore how to take on international markets and build upon trade corridors.”

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