Ipsos Business Consulting specialists with in depth market knowledge and experience have identified opportunities and challenges in each market and have highlighted areas of interest for both British powerhouses and niche industries that are just starting to venture further afield .
FOREWORD BY LYNN MORGAN
HEAD , EUROPE AND THE AMERICAS
Britain ’ s decision to leave the European Union shocked the global business community . The referendum result sent markets into turmoil and saw sterling drop to its lowest point in more than 30 years .
While the turbulence has stabilised , shockwaves are still being felt and we should expect a relatively rocky ride once the government formally starts the process of disentangling the UK from the EU when it triggers Article 50 of the Lisbon Treaty sometime in the first quarter of next year .
There is growing recognition that the withdrawal from the EU will be a hugely complex affair . The government must help put people ’ s minds at rest about how this process will progress , especially given current concerns over the precise nature of the options available which range from a soft to hard Brexit , with the latter representing a radical change in almost all relations with the EU on issues of trade , commerce , customs and immigration .
Business leaders have two basic options — wait for clarity on the post-Brexit market environment or act now to create opportunities beyond European markets and forge relationships with new partners around the world .
Businesses simply cannot afford to sit around , given that Brexit will take at least two years to complete . They must take a proactive approach to expanding trade . Fortunately , as this report shows , numerous opportunities exist .
Britain already has strong relationships with trading partners in the Americas , Africa , Australasia and Asia . Consumers , businesses and governments around the world hold the quality and value of British products and services in high regard . Indeed , China and the US are already important trading partners .
The EU has been the centre of the commercial universe for many British businesses , as well as playing a defining role in trade policy . In real terms , much of this activity has only been developed since the mid 1970s . Furthermore , the past does not need to define the future .
This is why we have produced CREATING OPPORTUNITY : How to build a new era of trade for Brexit Britain . The report presents British businesses and anyone interested in Brexit with a clear guide to markets outside of Europe where British businesses can build their trade . This includes where to strengthen business with established trading partners and how to tap potential in emerging markets . Ipsos Business Consulting specialists , with deep on-the-ground knowledge and experience , identify opportunities and challenges in each market and highlight areas of interest for both British powerhouses — such as manufacturing , engineering and healthcare — and niche industries that are just starting to venture further afield .
Overall , the report provides an opportunity to take the shock of Brexit positively and use it to refocus and reshape Britain ’ s trading map on a global basis . Europe will of course remain a key trading partner , but never has there been a better time to seize the opportunity to explore new opportunities and secure a larger share of a growing global market .
Lynn Morgan
Head – Europe and the Americas Ipsos Business Consulting
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Ipsos Business Consulting specialists with in depth market knowledge and experience have identified opportunities and challenges in each market and have highlighted areas of interest for both British powerhouses and niche industries that are just starting to venture further afield .