As some businesses in the Midlands continue to struggle to maintain turnover and profits in the current low-growth economy, the appeal of export markets in strengthening global economies is growing stronger and this could lead to more export-led restructurings in 2012, according to business recovery experts at PwC.

Currently, more than half of the exports made by Midlands businesses to Western Europe. However, with growth in these territories dipping in response to the Eurozone crisis and continuing global economic uncertainty, this level of contribution is unlikely to be sustained. Last month, the CBI called for UK-based exporters to switch their focus to the BRIC economies in Brazil, Russia, India and China and consider emerging markets in places like Indonesia, Mexico and Turkey.

Business recovery experts at PwC believe that 2012 could be a good time to consider restructuring the company to improve its ability to capitalise on market opportunities overseas. The firm has also recently announced its support for a Government-backed initiative to encourage SMEs to export more, called 'Exporting for Growth'.

Matthew Hammond, partner and business recovery specialist at PwC in the Midlands, said:

"While most businesses were concentrating on riding out the economic downturn through 2008 - 2011, they are now facing the further challenge of maintaining business performance in a low growth economy. However, doing nothing is not an option as the rising costs associated with a higher level of inflation begin to eat into profits.

"Taking positive action will be the right move for many Midlands businesses and it is important to have a business strategy that is continually focused on opportunities for growth. For example, a strategic restructuring which opens the door to new markets at the same time as reducing costs or improving operational efficiency, could restore business growth and attract investment."

Typically in the winter months, the number of businesses getting into distress increases, particularly in sectors like retail and construction, which suffer differing seasonal pressures, but also in manufacturing.  According to PwC, such businesses may still have options open to them and for some, restructuring the business in a way that would increase access to export markets could help to secure the business.

Matthew Hammond said:

"With the right package of support, businesses in distress can succeed in turning around their performance. This has been demonstrated in 2011 and in the year ahead strategies that put export potential at their heart are likely to result in the best outcome."