Driving company growth in a recession can be a challenging prospect and stagnating growth in the UK and Europe has lead to a multitude of restructuring and recovery efforts, along with many mergers and acquisitions. Companies often look to free up assets in a recession, and businesses with purchasing power can exploit the opportunity to grab a larger share of the market.
Exporting is high on the agenda, especially to those countries that have not experienced a recession such as China, the world’s fastest growing economy, and the other BRICS countries; Brazil, Russia, India and South Africa. High-tech, green energy and creative industries are in high demand as are the UK’s management and engineering skills.
What does this mean for UK businesses? How can UK companies make this work for them?
Wilkins Kennedy is the accountancy, tax and finance partner of the LinkToChina (www.linktochina.org) initiative, a joint project of the British Chambers of Commerce and the Chinese Chamber network, CCPIT. The project offers a unique business matchmaking service and complements the work of UKTI and professional advisors very well.
LinkToChina organises events throughout the year, which offers UK businesses and investors the opportunity to meet with company owners and investors from China markets.
In 2010, there were over 2.5 million companies registered at Companies House.
Perhaps some of these businesses need to look beyond traditional markets to discover a business opportunity in the world’s growing markets?
What do you think? Please leave us your feedback here, or let us know if your business would like to get involved!