The Grant Thornton IBR study led to the conclusion that there is an opportunity for the international growth of some particular companies. The pandemic has slowed us all down, but more normal upcoming opportunities are leading to the launch of the middle market. A majority of 45% of the global mid-market expects their international connections and exports to grow in the next twelve months and sees this year as one of those in which everything will start. In the last ten years, that number has not increased above 36%, and at the beginning of the pandemic it decreased to only 25%, which means almost doubling compared to last year.

The economic recovery is getting closer to mid-market companies

Grant Thornton is an audit, tax and business consulting firm with 50,000 employees in more than 135 countries. Dynamic organizations eager for progress are mostly the most frequent clients, and highlighting a company’s growth potential is a day-to-day business. The strategy of mid-market companies is international growth and Grant Thornton is focused on helping on the path to success. In this process, Europe grew by 11% in the first half of 2021, largely due to vaccination against Covid-19 in more developed countries, which helps economic recovery. Medium-sized companies, 43% of them, are expected to enter new international markets in the next twelve months. Compared to last year’s 25%, this big shift will contribute to the development of new and existing companies. 

The recovery of global companies after the exit from the pandemic, led to an increase in demand

The middle market is currently quite delicate, while some countries are becoming a priority for global growth, which is also a case for Grant Thornton experts. Crises in competing companies and the uncertainty crisis caused by the Covid-19 virus have created an opportunity for companies to enter new markets and establish longer-lasting relationships. Some of these opportunities in international markets are driven by pandemic or government spending.

Nowadays, it is much easier to take products and services due to the rise of digital communications and the greater willingness of customers to engage wherever they are. The recovery of global economies after coming out of the pandemic for those countries that announced it, led to an increase in demand. Although the growth of companies looking for global growth is dramatic, our experts believe that there are still many opportunities internationally for mid-market companies. The middle market materially neglects large areas of known opportunities, and if the middle market does not target them, probably everyone ignores them.

The practical challenge is quality and data control. Companies just need to work out their priorities regarding quality and data sharing, and then ensure that the necessary controls are built into the system.

Data source: Grant Thornton Global