New research revealed ahead of a trade and investment conference has found only one in five Maltese small and medium-sized enterprises (SMEs) are currently planning to expand their business on an international scale.
Findings from a Regus study on international activity in Malta have been announced in Swatar, where the Malta Chamber of Commerce is holding an event on international trading as part of its Linking Enterprise programme. The research revealed that companies trading overseas are enjoying greater revenue and profit growth compared to companies focusing only on their domestic market, although many companies are failing to take advantage of these trends.
Presenting at the event, Regus' Malta General Manager Jankarl Farrugia said: “Entering a new market is clearly one of the toughest tasks for any business. Property and infrastructure are perceived as key challenges or obstacles for firms entering a new market, and it can be a risk for micro or small businesses to conduct market research and expand into new markets when time and resources are tight.”
Malta's SMEs have been urged by the government to internationalise in order to boost their business prospects. Despite strong evidence showing firms expanding overseas are faring better than those who stick to their immediate markets, many SMEs are struggling to overcome the tax, legal and compliance issues faced when moving abroad.
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