WITH many experts predicting that Britain’s exporters hold the key to continued economic recovery over the next 12 months, at HSBC we expect to see increased international trade driven by significant growth in emerging markets.
This growth is playing a key role in helping businesses to see opportunities beyond the borders of the UK – both in these emerging markets and in mature markets where growth is slower.
Emerging markets are driving a new wave of consumer and business investment demand, providing exciting export opportunities for businesses.
“Thinking” businesses are approaching this shift in global trade with optimism, using it as an opportunity to innovate and cash-in on the creativity, strong heritage and knowledge-intensive base Britain is renowned for.
The latest HSBC Global Small Business Confidence Monitor revealed that by 2013, some 40% of the world’s SMEs expect to be operating internationally. With 29% of businesses already trading overseas, the next two years will see an acceleration of this trend.
At HSBC, we truly believe that businesses in the UK should make the most of the international opportunities open to them. Currently, 20% of UK SMEs are trading internationally and our data highlights an increased appetite to venture overseas.
Among our 1m commercial customers across the UK, we are seeing an increase in our trade finance lending to UK businesses – particularly within the export component. HSBC invoice finance turnover is also on the rise, which is a lead indicator of overall economic activity.
At HSBC, our global footprint and connectivity around the world enables us to support customers with their international requirements and provide access to our own local contacts and insights.
As such, we are encouraging businesses in Kirklees to consider international growth opportunities. For the second year running, HSBC has launched Business Thinking – an initiative to find the UK’s best business thinker and an opportunity for 18 companies across the UK to benefit from up to £6m of lending and a financial reward of up to £120,000.
The initiative will see six entrants from across Yorkshire and the North East selected as regional finalists. These finalists will have an opportunity to participate in an international thought exchange visit to network and gain valuable business insight.
While international trade offers many firms an opportunity to exploit their strengths, diversify their customer base and expand their business, we would encourage any business to seek professional advice and carry out thorough research before venturing into a new market to enable them to maximise their successes overseas.
To find out more about how HSBC might be able to help your business or to find out more about HSBC’s Business Thinking initiative, contact jillhague@hsbc.com or visit www.businessthinking.hsbc.co.uk