Emerging markets are becoming increasingly attractive to 63% of UK businesses, with 75% eyeing Dubai as an overseas business location to expand into
- New research by DMCC (Dubai Multi Commodities Centre) (DMCC) that just under half (42%) of UK businesses have more appetite for overseas expansion in the post-Brexit and Trump administration era
- Amongst the top reasons for eyeing overseas expansion, include: emerging markets becoming increasingly attractive (63%), business need for global presence (47%), availability and wealth of overseas talent (44%), too much uncertainty in the markets and the UK no longer being an attractive option (36%)
- Out of the UK businesses open to expanding into overseas markets, 40% would consider the Middle East and 75% would consider Dubai as a location to expand into
As the nation awaits the triggering of ‘Article 50’, the uncertainty over Brexit is making UK businesses more open to overseas expansion, with 42% of UK businesses confessing to having more appetite now than previously to expand their business presence overseas, according to a new research released today by the DMCC, a Dubai Government entity on trade and enterprise.
Amongst the top reasons for UK businesses eyeing overseas expansion, include: emerging markets becoming increasingly attractive (63%), growing business need for global presence (47%), availability and wealth of overseas talent (44%), and too much uncertainty in the markets with the UK no longer being an attractive option (36%).
Out of the UK businesses open to expanding into overseas markets, a staggering 75% say they are eyeing Dubai as a possible overseas location to expand into. And out of the UK businesses that are still undecided, 40% say they would consider the Middle East as a territory to have presence in if they are open to overseas business expansion.
And amongst the UK businesses that are still hesitant about overseas expansion, 34% say it is because their business is not applicable for an overseas market, however certain features could make it more attractive for them to consider overseas business expansion. For 43% of UK businesses, tax free incentives would make it more attractive to expand into overseas markets, and for 29%, the ease at which they can arrange paperwork (trade license, visas, office space) would help them consider an overseas expansion.
We have on hand the CEO of the DMCC, Gautam Sashittal who will discuss how the Dubai Multi Commodities Centre is offering help to UK businesses looking to expand overseas into the Middle East market.