‘Seize the international initiative from trading overseas – however, do your research first’. That is the clear message to companies operating in the BDO Central South region, stretching from Weymouth to Chichester and north to Salisbury and Andover.
BDO is proud to announce this year’s top 20 performing companies in Central South that operate internationally. These are the mid-market companies that despite the challenges of Brexit, global trade wars and economic uncertainty are successfully growing their business by expanding overseas.
The annual analysis of business activity and performance is now in its fifth year. Nearly 50% of these companies operating internationally are new to the 2019 listing, demonstrating that more businesses have developed successful strategies for exporting and selling services to the global market. Despite the uncertainty, in the last three years the mid-market in the region overall has still achieved 25% growth in turnover and an increase in profits of 18%.
Arbinder Chatwal, BDO Partner said, “Our Central South campaign continues to gain momentum and showcases real, tangible success in our region. The mid-market is the engine room for growth in the UK – increasing turnover, employment and trade overseas.”
However, although there are many opportunities to be grasped from trading internationally, of course it is not without risk. That is why it is so important to undertake careful preparation before launching into new markets abroad.
“I wouldn’t say expanding overseas has got any easier, but nor is it any harder. Businesses need to take calculated risks, put feet on the ground, go in with their eyes wide open, and crucially ensure they have a long term exit strategy.” Chatwal added.
BDO will present all the top 20 international companies with a special plaque to celebrate their achievements, and they will be shortlisted along with other top performers in the coming months for the BDO Central South Mid Market Company of the Year, to be announced in autumn 2020.
To help businesses prepare for overseas growth, BDO and HSBC are holding the region’s first International Day on Tuesday 26 November in Southampton. The day will include a workshop hosted by specialists sharing practical advice on entering markets in South East Asia, India, the US and Europe.