It started with the BRICs, then came the PIGS and now it’s the MINTs.
What do they all have in common besides being acronyms? They’re all groups of countries that have at various times been grouped together as either economies that are tipped to grow, and therefore offer good potential for UK firms wanting to expand and export their goods and services, – or possibly not, in the case of the PIGS (Portugal, Ireland, Greece and Spain) highlighted as problem economies at the height of the global financial crisis.
It seems the BRICs (Brazil, Russia, India and China) are old news. The potential new kids on the block are the MINTs (Mexico, Indonesia, Nigeria and Turkey).
Although they are widely disparate both geographically and in terms of infrastructure they are being seen as emerging economies with growing populations of young people.
We’ve said before that SMEs in the UK need to become more innovative when researching markets for their products and services and to not discount opportunities for growth abroad.
We’re not pretending it will be easy so you need to do your homework. If you can, it’s worth actually visiting the country to get a feel for how things work and what opportunities might exist.
The Government’s UKTI (UK Trade and Investment) is a good place to start. It offers support and experts to help you and regularly organises business delegations to countries around the world.
Fancy a MINT anyone?