Management are often wary of setting up overseas and it requires a significant change in mindset. Tending with finite resources and a resourceful approach to play safe.
Growth sectors do drive growth! But mature markets often have as exciting yet better rooted opportunities to grow through internationalising and professionalising the business. For example 36% of Uk firms limit their operations to domestic markets vs 25% in Germany. German firms added 3x as many jobs as their UK counterparts between 2007 – 2101. (Source Warwick Business School)
Its only worth going international if the move adds value and there is an tangible opportunity to capture profit. Emerging markets are doing this very successfully in the UK and Europe.
The first step to internationalising a business is professionalising the companies board and information. You have to create a secure stable local market before you try to go overseas.
