European markets

UK Small Businesses Bullish About Brexit, As Half Believe They’ll Increase Exports

UK Small Businesses Bullish About Brexit, As Half Believe They’ll Increase Exports

UK small businesses are confident about their ability to achieve future growth, despite the uncertainty caused by Brexit. A survey by Oxford Economics has revealed that 50% of all small enterprise owners believe they can increase their revenues by at least 4% in the coming year, with 57% believing they can achieve the same within three years – while 20% have set their sights on achieving an 8% annual growth rate. Indeed, it’s suggested optimism among business owners is high, with respondents almost twice as likely to think growth will accelerate rather than slow down over the next three years during which it’s assumed the UK will officially leave the EU. With Article 50 set to be triggered by the end of March, small firms are now looking beyond the single market and want to sell to the wor... »

Europe Remains the Top Export Market for UK Small Businesses

Europe Remains the Top Export Market for UK Small Businesses

UK small business transactions with Europe rose 59% to a staggering £198m in October 2015, indicating that UK company still rely heavily on Europe for overseas trade – research from World First has found. The UK’s reliance on European trade clashes with David’ Cameron’s recent mission to open up trade with China and has also raised concerns in light of the ongoing Brexit discussions. While small business trade with China has increased, with the amount of sterling traded in for yuan rising by 238% to £7.25m last year, UK companies still conducted 22-times more transactions with European markets. Chief economist at World First, Jeremy Cook, commented: “It’s clear that any decision to re-evaluate Britain’s relationship with the EU needs to be carefully considered given the volume of tra... »