Britain’s shock referendum result to leave the EU may have temporarily roiled international markets and weakened investor confidence in the region, but it has also created a unique opportunity for British firms to expand trade and build long-term partnerships beyond the borders of Europe, a new study finds.
CREATING OPPORTUNITY: How to build a new era of trade for post-Brexit Britain, published by Ipsos Business Consulting, a leading global strategic consultancy, outlines key opportunities for British companies in established, emerging and frontier markets outside of Europe. The timely 18-country study draws on the consultancy’s extensive global network of country offices and trade specialists who combine on-the-ground fact-based insights on the Americas, Africa, the Middle East, Asia and Australia with a careful analysis of Britain’s own areas of expertise.
Britain will be free to negotiate trade deals with other countries on its own terms, or use alternative existing structures such as WTO mechanisms, once it has formally exited the EU and disentangled itself from the grouping’s legal and regulatory framework. However, given negotiations to leave the EU will take at least two years, British businesses must move now to seize opportunities further afield, says Ipsos Business Consulting CEO, Peter Snell.
“Ipsos Business Consulting produced CREATING OPPORTUNITY: How to build a new era of trade for post-Brexit Britain to help British businesses identify and exploit trading opportunities outside of Europe,” says Mr Snell. “These businesses and their trading partners simply cannot afford to sit and wait for the government to negotiate the terms and conditions of Brexit with the EU.”
“Regardless of how people feel about the result to leave the EU, the decision has been made,” says Mr Snell. “Ipsos Business Consulting takes the view that British businesses must work together to make the best of the situation by expanding their footprint beyond Europe, reshaping Britain’s global trading map and creating a brighter future for generations to come.”
The report shows how British industry powerhouses such as automotive, pharmaceuticals, and power generation and machinery have the potential to leverage their global reputation for excellence to strengthen their position around the world. Firms operating in the transport and infrastructure, and power generation and machinery sectors, should seek opportunities in emerging markets with long-term housing, logistics and power development projects in Africa, Asia and Latin America. Retailers should look east to Asia, a continent full of opportunity for most sectors.
CREATING OPPORTUNITY: How to build a new era of trade for post-Brexit Britain presents its findings in plain English and includes engaging infographics and other resources to help businesses easily identify opportunities. Key elements include:
- Market analysis of 18 countries across five continents, including an Ipsos Business Consulting Expert View for each market.
- BEYOND BREXIT: Opportunities and challenges building British trade outside of the EU, which identifies the key prospects and pitfalls for each market.
- Industry sector report, a table outlining the key established and emerging market opportunities for British businesses by sector.
- The latest World Bank Ease of Doing Business index for each country (released in October 2016).
Ipsos Business Consulting has also created a Brexit microsite to pool the consultancy’s research and strategic advice on the implications of Britain’s departure from the EU. “We here to help provide certainty for British businesses in these uncertain times,” says Lynn Morgan, Ipsos Business Consulting’s Head of Europe and the Americas.
“Knowledge is the most powerful resource businesses can have when looking to enter new markets. That’s why we avoid political analysis and focus on providing a fact-based view on the opportunities and challenges in each market,” she says. “CREATING OPPORTUNITY: How to build a new era of trade for post-Brexit Britain helps interested businesses take an important step in expanding their trade horizons. Of course, we can also help tailor Go-To-Market strategies to their specific needs.”
The Ipsos Brexit microsite can be found at www.ipsosconsulting.com