[May 2023] Amidst the economic uncertainty brought about by the pandemic, a recent survey revealed that most UK businesses are still considering overseas expansion. About 70% of UK small and medium-sized enterprises were looking to expand their operations beyond British shores, mostly focusing on branching out to North America and Europe. This is despite the fact that many companies have had to endure significant losses due to travel restrictions, weakened consumer demand, and other impacts of the global health crisis.


The benefits of overseas expansion, particularly during a downturn, outweigh the risks for many UK businesses. This survey reveals that many companies are still eager to tap into the potential of global markets, despite the ongoing economic struggles. They are also looking to acquire funding opportunities from international investors, as venture capital-backed businesses can prove that there is demand for their products overseas.


Success in expanding abroad could be a real game-changer for many UK companies, enabling them to access millions of new customers and gain additional sources of revenue. Therefore, strategic planning is essential to ensure that companies are well-prepared for any potential challenges and risks associated with overseas expansion. Steps may include the following:
Thorough Research
Researching local markets for potential opportunities, customer preferences, and possible regulations is key to successful overseas expansion. Examining the competitive landscape and understanding how local businesses operate will also be beneficial as these can provide valuable insights.

Marketing Strategy

Developing a comprehensive marketing strategy tailored to the target market is necessary for building brand recognition and achieving success. Companies should also make sure that their message resonates with the local audience, as this will increase their brand awareness and loyalty.

Financial Planning

A well-thought-out budget with realistic goals is essential to ensure that overseas expansion is feasible and profitable. Businesses should work with chartered accountants to understand the financial implications of any overseas expansion plans. Companies like Bryden Johnson offer support by providing enterprises with business advisers and accountants to help manage their finances.

About Bryden Johnson

With a team of experienced chartered accountants and business advisers, Bryden Johnson provides expert advice and support to businesses of all sizes. Since 1975, the firm has helped businesses identify strategic opportunities and create plans for successful overseas expansion using expert financial planning. They offer comprehensive services to businesses across South London, Croydon, Kent, and Surrey.


Interested parties can learn more about their services at bryden-johnson.co.uk.