A new survey has shown that more than half of British entrepreneurs are looking at acquisitions as the main way of growing their businesses in 2012.
The survey, carried out by restructuring specialists, RSM Tenon, found that 34 per cent of the owners of small and medium-sized business (SME) surveyed were looking at making an acquisition of a British business in 2012. A further 15 per cent declared that they were looking at taking on a foreign business.
RSM Tenon’s Head of Audit, Tax and Advisory Services, Mark Lucas, said that expanding overseas was being seen as one of the main ways that British SMEs can remain positive while tough domestic economic conditions continue.
“It is likely that entrepreneurs are currently prioritising their M&A activity due to the many acquisition opportunities that have come about as a result of the downturn in the economy,” he explained. “We’ve definitely seen a rise in businesses — small and large — taking advantage of the situation and looking acquire competitors while they are still able to do so at a reasonable price.”
The figures also showed that 42 per cent of the business owners were looking at expanding into new product or service markets, while 31 per cent said that their priority lay in new geographical markets.
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