Brexit export

Three Weeks Before The General Election, Just 19% of Small Business Owners Support A Hard Brexit

Three Weeks Before The General Election, Just 19% of Small Business Owners Support A Hard Brexit

Less than three weeks before the general election, just 19% of small business owners support a ‘hard Brexit’ – according to a report by Chartered Management Institute (CMI). The survey of over 800 managers has revealed that 43% believe access to the single market and free movement of people across the EU should remain once the UK officially leaves – something the current government has ruled out should they be re-elected. When asked for their top business wishes for the next government, securing trade deals with non-EU countries is a priority for 66% of enterprise owners as businesses begin to ‘think global’. Guaranteeing the rights of existing EU residents (58%), investing in capital infrastructure (53%), maintaining investment in the Apprenticeship Levy (30%) and promoting UK... »

Medium-Sized Businesses Are UK’s “Economic Engine” As Overseas Turnover Up 50% Since 2011

Medium-Sized Businesses Are UK’s “Economic Engine” As Overseas Turnover Up 50% Since 2011

UK medium-sized businesses have reported that their overseas turnover is up 50% since 2011, according to a report from the BDO. Outperforming UK FTSE 350 and smaller firms, medium-sized enterprises generated £127bn in 2016 – up from £84bn five years previously. Despite the backdrop of Brexit in 2016, the “economic engine” of the UK economy remained buoyant and increased its international sales from £119bn to £127bn – a 7% rise. In contrast, the levels of overseas trade of FTSE350 and small businesses in 2016 fell 30% (from £524bn to £366bn) and 13% (from £12bn to £10.4bn) respectively. With Article 50 negotiations set to begin from Wednesday, the government has been urged to consider the significant of small and medium sized businesses to the economy – with the UK’s 30,000 medium firms acc... »

Foreign Shoppers Exploit Weak Pound By Spending Over £725m In UK Stores During December

Foreign Shoppers Exploit Weak Pound By Spending Over £725m In UK Stores During December

Foreign shoppers took advantage of the pound’s weak value by spending over £725m on the UK high street in December alone, according to research by Worldpay. Their study of foreign credit card transactions revealed that spending was up 22% or an extra £130m compared to Christmas 2015, with bargain-hunters from Hong Kong the biggest spenders followed by the US, United Arab Emirates and China. It’s suggested Britain’s decision to leave the EU in June was major factor in the increase in spend, with the pound dropping 8% against the dollar and 12% against the euro tempting ‘Brexit tourists’ to fly over from some good deals. This drop in value also presents an opportunity for exporters however, with oversea buyers now believing they’ll get more ‘bang for their buck’ if they buy UK goods. James F... »

Manufacturing Industry Hits Four Year Low With ‘Gloomy’ Output Prediction

Manufacturing Industry Hits Four Year Low With ‘Gloomy’ Output Prediction

Optimism among the UK’s manufacturing industry has slumped to a four-year low, as businesses prepare for life outside the EU – a report by BDO LLP has claimed. The Business Trends Report which surveyed over 4,000 enterprises revealed a ‘gloomy’ outlook for the sector with its optimism sub-index dropping down to 81.0 – with a score of 95 indicating contraction. General business confidence has also fallen to its lowest in three years, however the monthly drop is less severe than previous reports   – suggesting the UK’s decision to leave the European Union has made less of a negative impact than first predicted. Despite the negative trend, it’s suggested that the drop in value of the pound presents an opportunity for businesses to increase exports with overseas companies now able ... »