Our prestigious Ernst & Young UK Entrepreneur Of The Year awards ceremony takes place in October and a number of our Midlands winners will be there to find out who is named the overall UK winner.

This year’s regional finalists came from a breadth of different sectors and all have unique skills and talents which have enabled them to make their businesses a success.

As well as having passion, drive and desire, almost all of this year’s Midlands finalists had something else in common – the confidence and intention to enter new markets.

With business in the eurozone remaining slow, entrepreneurs across the region are widening their sights and giving serious consideration to rapid growth markets. The BRIC and emerging economies are continuing to thrive and the most successful entrepreneurs will be the ones who take advantage of this opportunity to secure long-term growth. A total of 83 per cent of our finalists in the region intend to enter new geographical markets in the next two years and 50 per cent believe that entering new markets would give them potential to an untapped opportunity.

As would be expected, India, China and Brazil were all popular targets but other emerging economies such as Argentina were also mentioned as offering excellent opportunities for growth.

So how can entrepreneurs find success in these new markets? Building a long-term strategy and getting the right support structure are critical first steps. Entrepreneurs could also consider using an agent to make the first move into a new market followed by a joint venture with a local business partner.

Seeking the best adviser is also crucial to export success. It is important to build a relationship with an adviser who can continue to offer their expertise as the business grows and confronts new challenges. Entrepreneurs looking to take their businesses to new markets would want an adviser with strong contacts in rapidly growing markets around the world.

At Ernst & Young our Growing Beyond initiative is aimed at supporting Midlands businesses to reach out to new markets and find growth in these difficult economic conditions. For more information visit ey.com/growingbeyond.

* Adrian Roberts is partner sponsor for Ernst & Young’s Entrepreneur Of The Year programme in the Midlands