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Local growth exceeds overseas growth for Kiwi businesses

Local growth exceeds overseas growth for Kiwi businesses

New research from Regus shows that New Zealand companies are growing significantly more at home than abroad, with access to talent being the main barrier to expansion

New Zealand, 8 August 2014 – New research by global workplace provider Regus, revealed that New Zealand businesses are mainly experiencing growth in the local market rather than abroad – with 38% of Kiwi companies reporting growth at home compared to only 4% seeking growth in overseas markets.

The research, which canvassed the opinions of more than 20,000 senior executives and business owners across 95 countries, found that New Zealand businesses reported significantly low levels of overseas growth even compared to the reported global average of 17%, and was dramatically lower than Australia whose overseas growth was reported at 15%.

According to the research, hiring high-quality staff is the largest barrier to international growth for New Zealand firms - with 66% of respondents reporting this.

Other obstacles to overseas growth include:
• A lack of local knowledge and connections (64%)
• A lack of market information (53%)
• Limited access to flexible office space (40%)
• Difficulties setting up a local distribution network (38%)

Commenting on the study, Country Manager of Regus New Zealand, Nick Bradshaw, confirmed that New Zealand businesses are reporting more growth at home than abroad, and noted that there are a variety of key factors that are vital for the success of business expansion.

“We have helped thousands of Kiwi companies set up in new countries so it comes as no surprise to find that quality staff, up-to-date market information, and the ability to network are at the top of the perceived barriers to international expansion.

“Therefore flexible work options, such as Regus, allow businesses to explore these markets with a level of security. They can rapidly expand, but are also able to retract quickly and easily should the market collapse or growth possibilities appear elsewhere,” he said.

Mr Bradshaw added: “What business leaders need to understand is that establishing a physical footprint in different cities around the world should not be avoided. Facilities such as Regus business hubs can give small and large businesses a local presence without the financial risk that has traditionally been associated with expansion abroad.”

About Regus
Regus is the global workplace provider.

Its network of more than 2,000 business centres in 102 countries provides convenient, high-quality, fully serviced spaces for people to work, whether for a few minutes or a few years. Companies like Google, Toshiba and GlaxoSmithKline choose Regus so that they can work flexibly and make their businesses more successful.

The key to flexible working is convenience and so Regus is opening wherever its 1.5million members want support - city centres, suburban districts, shopping centres and retail outlets, railway stations, motorway service stations and even community centres.

Founded in Brussels, Belgium, in 1989, Regus is based in Luxembourg and listed on the London Stock Exchange. For more information, please visit: www.regus.com

ENDS

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