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KPMG: Bullish on opportunities in foreign markets
August 22, 2012
By Rob Starr, Content Manager, Big4.com
According to a recent survey of mid-sized businesses conducted by KPMG, mid-sized companies in the Americas are determined to grow their overseas presence over the next five years. Specifically, while Canadian private companies understand the benefits that come with trading close to home, an emerging-market strategy is essential for growth in a global economy.
Dennis Fortnum, Canadian Managing Partner, KPMG Enterprise commented:
“With the value of exports to the US softening and the wavering US market, mid-sized Canadian companies are looking elsewhere for potential growth opportunities,” he said. “Emerging markets in Asia, South America and the Middle East are appealing because of their low-cost sourcing, high-growth sales and expansion opportunities.”
Global Rewards Within Reach is based on responses from 1,150 senior leaders of mid-sized companies based in the USA, Canada, Brazil, and Mexico that have sold a product or service in a foreign market within the previous year. KPMG Enterprise identifies key success factors for Canadian private companies as they establish and expand their global presence including: Employ multiple strategies – activities should be increased across a number of areas to build global presence, including strategic acquisitions, partnerships or joint ventures, and the use of foreign vendors or distributors.