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    New horizons: Europe’s small and medium-sized companies look to emerging markets for growth
    is an Economist Intelligence Unit report, sponsored by FedEx Express Europe, Middle East,
    Indian Subcontinent and Africa. It examines the degree to which Europe’s small and medium-sized
    enterprises (SMEs) are operating in emerging markets: which markets they are choosing, why they are
    going there, and the opportunities and challenges that they are encountering. James Watson was the
    report author and Jason Sumner was the editor.
    To support this study, the Economist Intelligence Unit conducted a survey of 618 European SMEs
    during March and April 2011. Definitions of SMEs vary, but as a rough measure, this report only
    considered firms with €200m or less in annual revenue. In total, 55% of firms in the sample had
    up to €10m in revenue, while a further 38% had between €10m and €100m. All respondents hailed
    from western Europe, primarily from the UK, Italy, Spain, France, and Germany. All firms polled were
    already engaged in commerce beyond their national borders. The respondents were senior: 68%
    were managing directors, CEOs or another C-level position. Many are well established, having been in
    operation for ten years or more, while only a minority are new businesses. All major industry sectors
    were represented.
    To complement the survey findings, the Economist Intelligence Unit also conducted wide-ranging
    desk research and in-depth interviews with numerous small-business owners, and other experts. Our
    thanks are due to the following for their time and insights (listed alphabetically, by organisation):
    l Horst Kayser, CEO, AEG Power Solutions
    l Pablo Caño, partner, Apréndelo
    l José-Maria Aulotte, senior vice-president for human resources, communication and sustainable
    development, Arc International
    l Alan Bell, managing director, Bell Design
    l James Berkeley, director, Berkeley Burke International
    l Alessandro Verduci, global head of sales, Breton
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