Businesses To Bank On Britain After Brexit

59% of all UK small businesses expect to experience growth in the UK over the next year, compared to just 20% for Europe

Businesses To Bank On Britain After Brexit

UK small businesses believe they’ll have to rely heavily on home-grown trade in post-Brexit Britain, as few see room for growth in Europe.

According to a study from Hitachi Capital, 59% of all UK small businesses expect to experience growth in the UK over the next year, compared to just 20% for Europe.

With regards the rest of the world, 18% of small firms are looking towards North America as a possible market, while 9% have eyes on Australia and New Zealand – with 7% believing their business could potentially generate growth in Japan, East Asia and the Pacific nations.

When it comes to the domestic market, a North-South divide appears evident – as 71% of small firms in the North East and 69% in the North West cite the UK as their biggest growth market, compared to just 51% in London.

Gavin Wraith-Carter, Hitachi Capital business finance managing director, said:

“For many smaller ventures, the UK domestic market is key to their growth outlook, which is good news for inward investment and job creation.”

Are you already thinking about exporting beyond the EU? Here’s a guide on who to trade with

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>