Growing your business through global trade
Despite weaker global optimism and increasing trade barriers, technology and growth potential are driving businesses internationally.
Companies expanding into new markets have always needed to keep an eye on two horizons: the long-term goals and the short-term challenges. In today's rapidly changing trade environment, where uncertainty dominates, that twin focus needs to be sharper than ever.
Francesca Lagerberg, global leader of network capabilities at Grant Thornton, says: “Businesses today are conceived with global ambitions as technology rolls back many of the obstacles that once hindered international growth. While this trend is set to continue, businesses have to deal with a multitude of political and economic factors instead, most recently in the US/China trade war, and the threat of increasing protectionism.”
This paradox is highlighted in our latest International Business Report (IBR). While net global optimism continued to decline in H1 2019 to 32%, with economic and political uncertainty weighing on sentiment, net export expectations for the next 12 months held up well, staying unchanged at 21%. There were even modest increases among ASEAN and North American countries, up 6pp and 4pp respectively.
In this article, we explore the benefits of taking a business international and the barriers they are encountering. We share how thriving international businesses balance long-term planning with agile decision making and models that enable them to respond to the ever-changing market dynamics.