Globalization: A Lost Opportunity?
Under a nicely provocative headline titled “UK businesses signing their death warrants with their ignorance“, the chilli recently quoted from Grant Thornton’s International Business Report, while commenting on UK SMEs and globalization.
Amongst other things, it noted that:
“…less than half of UK businesses (46 percent) believed that globalization presented an opportunity to their country” compared to “82 percent of Indian businesses who believed that globalization presented a significant opportunity for their country…”
The story also mentioned: “UK business owners felt that (the economic expansion of the BRIC countries) over the past few years (has) had very little impact on their own companies”
A few other startling findings:
- 79% of UK businesses are ignoring opportunities to import from China
- 90% have no plans to export to India and
- 87% have no plans to export to China
…all of which suggests to me a great opportunity (and a market) waiting to be tapped.
