UK entrepreneurs shun overseas expansion

ONLY ONE in three entrepreneurs is looking to expand overseas in 2012.

A survey by RSM Tenon of more than 300 entrepreneurs, chief executives and shareholders found that two-thirds of respondents are looking to grow their business by more than 10%. However, only 31% said expansion into new geographic markets would be a priority for 2012.

Of those looking overseas for growth, four out of five said they would look to do this in Europe, while a similar number would look to Asia.

"It's disappointing that more UK entrepreneurs aren't looking to develop their overseas markets," said Philip Coleman, RSM Tenon head of international business development.

"Despite the on-going difficulties with the economy in Europe, I think that there are some really promising opportunities for UK companies at the moment. If entrepreneurs are prepared to look beyond the crisis and prepared to stay in for the long-term, then there could be some good rewards to be had."