Most companies feel they must rethink capabilities to secure emerging market growth

The majority of global companies are looking at high growth from emerging markets as the key to future expansion.

However, new research from Accenture suggests that most believe they do not currently have the required capabilities to compete in these new markets.

The survey of nearly 600 business leaders from 85 different countries suggested that 80 per cent believe emerging economies will be their primary focus for growth in the future.

Despite this, 74 per cent said they must to more to improve their market share, if it isn't already too late to do so.

Mark Spelman, managing director of strategy at Accenture, said: "There is a tendency for companies to hesitate in prioritising investments in new marktes and even a preference to retrench or withdraw from some locations until the global economic environment becomes clearer."

However, he suggested companies with "healthy cash reserves" should consider investing in high-growth consumer markets to take advantage of significant expansion opportunities.

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