Recent research carried out by RSM Tenon has revealed that half of all entrepreneurs in the South are looking to expand into overseas markets in 2012, with the majority looking to Western Europe as a main source of growth.

The research, entitled ‘Lonely at the Top: The entrepreneurial challenge’, surveyed the UK’s leading entrepreneurs about the different challenges and issues they face in today’s entrepreneurial Britain.

Unsurprisingly, the highest number of entrepreneurs looking to expand overseas was based in London (68%).

Just under half of the UK entrepreneurs said that Western Europe is the area that expected to expand into, and this was followed by Eastern Europe at 37% and North America at 35%.
But it isn’t just goods and services where the South’s entrepreneurs can see opportunities abroad. 14% said that they are looking to acquire additional businesses overseas within the next year, and 33% said that increased opportunities internationally had been an important factor in the overall improvement for entrepreneurship in the UK.

Mike Sables, RSM Tenon regional head of international business, said: "We are well aware of the international potential within the region as a large number of our clients are internationally owned or internationally active, but it is still interesting that despite the current crisis in the Eurozone, most of the entrepreneurs see their businesses expanding into Europe over the next year.

"I think entrepreneurs should look beyond the crisis, be prepared to go in and stay in for the long-term, and with advice from people with the right experience, there could be some good rewards for UK entrepreneurs post the issues in the Eurozone."