Commenting on the UK Retail Industry International Action Plan launched today by Vince Cable, David McCorquodale, head of retail at KPMG, said:
“The Government’s ongoing efforts to help retailers break into new overseas markets couldn’t have come at a better time. Regulatory and structural boundaries are diminishing, providing easier access into growing markets for those wishing to expand internationally. Retailers certainly have the appetite to tackle the challenges that globalisation brings, recognising overseas markets offer significant opportunity when there is limited growth forecast domestically.
“The Government has a crucial role to play in smoothing the way for our retail pioneers. Government bodies like UKTI can assist in opening new territories for retailers by helping lobby for change around tariffs and overseas restrictions. Emerging economies are where growth can be driven and Government support to make these foreign destinations level playing fields is most welcome.
"I'll be interested to understand more detail of the proposals for the Government's 'connected digital' plans to consider how these can benefit our retailers in the long term.”
Notes to editors:
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KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.