Four out of five European businesses have predicted healthy growth over the coming year a new study has revealed.
Research by the European Business Awards has discovered that 8 out of 10 businesses expect to grow in the next 12 months, with over half of those predicting growth of 10% or more and 3 out of 10 expecting to grow by at least 20%.
Alan Keir, global co-head of Commercial Banking at HSBC, said: “The European Business community has responded to past uncertainty by grasping opportunities and accepting that investment and growth is the key to success.
“The hunger for growth and success, coupled with a sense of optimism, means that European businesses will go from strength to strength,” he added.
The findings have shown that only 6% of European businesses plan on continuing to focus solely on core business in the coming year. Furthermore, almost 30% of businesses also said they felt it was essential to look at ways to diversify product offerings and services.
Rosa Wilkinson, marketing managing director UKTI, said: “International trade is key to our economic health and future growth. Successful businesses are those that constantly reach out to new customers and new markets. Those companies will generate new ideas, new jobs, and new wealth. I am hugely encouraged by the energy I see in businesses looking to internationalise. Their energy is driving the outstanding performance that will underpin our recovery.”