Research by professional services firm Grant Thornton shows that British privately-held businesses have a more acquisitive approach to business than businesses in other countries.
Preparing for the economic recovery, some 21 per cent of UK respondents say that they’re positively focused on M&A, compared to a global average of 14 per cent.
British entrepreneurs are more “hawkish” on acquisitions than the rest of the world, says Geoff Davies, head of corporate finance at Grant Thornton: “Ironically, these acquisitive British firms are themselves particularly attractive to foreign bidders because of the prevailing weakness of sterling.”
The research also showed that more than a quarter – 26 per cent – of entrepreneurs are planning to grow their businesses via acquisitions in the next three years. Of these, 87 per cent say this will be through domestic M&A, while 29 per cent are considering growing by buying foreign assets.
Earlier in the month, research by Investec Specialist Private Bank and Entrepreneurs Organization found that the vast majority of entrepreneurs were feeling good about the economy this year, with 72 per cent viewing it as an opportunity for their businesses.