By Maximilian Clarke
The rapid rise of high growth market companies presents an opportunity for European and North American businesses and should not be perceived as a threat, a report argues.
Drafted by UK Trade & Investment and the Economist Intelligence Unit, the report “When two worlds meet: How high-growth market companies are changing international business” details the numerous ways in which businesses stand to benefit from the increased competition and the growth of new consumer markets.
Chief amongst the benefits discusses is the improved access to emerging markets that rapidly expanding local companies can offer. Correspondingly, 1 in 3 businesses were aiming to expand within new markets. The report also suggested that better competition will provide the stimulus to further drive innovation, helping businesses become reduce costs, delivering further benefits to consumers.
“Although the outlook for the global economy remains uncertain, high-growth markets, and their fast growing multinational companies, offer huge potential and rewards for UK companies who can rise to the challenge,” said Nick Baird, Chief Executive of UKTI. “It is encouraging that the UK continues to be a highly attractive investment destination for such companies.”
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