Pictured above: (l-r) Philip Costigan, Andy Currie, Professor David Bailey and Dr James Bellini

Corporate businesses across Warwickshire need to look at expanding into overseas markets to determine their future growth - that was the message at the Insight to Support Your Business panel discussion hosted by Barclays Corporate.

The event, which took place at the Ricoh Arena in Coventry, was chaired by Dr James Belini and attended by over 100 corporate businesses across Warwickshire. 

Dr Bellini, a futurologist with over 25 year's experience, was joined by an expert panel including Professor David Bailey from Coventry University, Andy Currie, Managing Partner at Catalyst Corporate Finance and Philip Costigan, Chair of Coventry and Warwickshire First. 

Commenting on what he saw as a key business opportunity, Andy Currie said: "Businesses need to consider who their competition is. This may no longer be a local or even regional company - this could well be competition from overseas and businesses must think about how they can compete on this international playing field.

Professor David Bailey added: "Growth in the economy will almost certainly come from exports. Whilst the economy is growing, it isn't growing quick enough. The public debt can be serviced but during this time, we need to hold our nerve and continue spending. Investment in innovation and diversification in international activity will be one of the key drivers for growth."

Richard Fray, Relationship Director at Barclays Corporate and host of the event, said: "This region has historically excelled in the manufacturing sector and those businesses aligned to the automotive industry have faced particularly challenging times. However, we are seeing more and more companies using their knowledge base along with their technical and innovative skills to diversify into new markets. 

Warwickshire and the wider West Midlands region, has excellent Universities, and businesses are starting to work closer with academia to develop products and services that allow them to compete in overseas markets, and this is something that should be strongly encouraged."