In a recent survey conducted by HSBC, the “Global Entrepreneurial Wealth Report 2023,” wealthy entrepreneurs with over $2 million in investable capital indicated that direct investments and real estate opportunities were significant factors influencing their decisions to expand internationally. The survey polled 973 entrepreneurs and found that about half are lured overseas by these opportunities, along with educational prospects for their children and personal property acquisitions.
The report underscored that despite challenges such as intricate regulatory environments and exchange-rate risks, global expansion could enhance profit margins, enlarge the customer base, and bolster operational efficiency.
Europe was identified as a primary growth market, with 60% of respondents planning to strengthen ties within the next three to five years. North America and Asia also emerged as attractive markets, particularly for younger entrepreneurs drawn by relaxed entry barriers and easy capital access.
Despite these expansion plans, the report pointed out a lack of attention towards succession planning among the respondents. Two-thirds of the respondents have not addressed this issue yet, while 8% have no intention of ever discussing it.
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