CONCLUSION
Brexit will clearly have far-reaching ramifications for Britain and its trading partners , most notably the EU . The negotiations that will define exactly how the UK withdraws from the European trading bloc will be protracted and at times contentious , particularly over more heated issues relating to the country ’ s control of its borders , the movement of EU citizens , whether Britain remains a member of the grouping ’ s customs union and what level of access it will retain to the single market .
This process will initially add more turbulence and uncertainty to markets around the world . Volatility should be expected in the short term . In combination , these dynamics will likely see more investors take a cautious approach regarding their activities across Britain and the EU .
Ipsos Business Consulting remains positive that the negotiating parties will reach a pragmatic and mutually beneficial resolution to any issues and that Britain will remain an important trading partner with the grouping and its member states . That said , it will take at least one to two years before a clear view on Brexit ’ s precise terms and conditions emerges . British businesses simply cannot afford to wait and see what happens . They must act now to build trade beyond the borders of continental Europe so they can increase business today and be ready to move quickly and leverage any advantages once Britain is free from European law and able to negotiate new trade agreements around the world .
In many cases , established Western markets , such as the US and Canada , offer a transparent , legally robust and pro-business environment for British companies . High levels of competition , and supply chain and sales and marketing complexities due to the sheer physical size of the markets can be limiting factors .
Emerging markets can offer greater opportunities : however , market entry can be much more complex given the generally opaque legal and regulatory systems and a tendency towards protectionist policies and operational issues that can be complicated by language and cultural issues . These issues should not be seen as reasons for not doing business in emerging markets , but they do underline the importance of conducting rigorous due diligence and related research prior to expanding into those countries .
The following table outlines the key established and emerging market opportunities for British businesses by sector . It shows how British industry powerhouses such as automotive , pharmaceuticals , and power generation and machinery have the potential to leverage a global reputation for excellence to strengthen their position around the world . Emerging markets , many of which have long-term housing , logistics and power development projects underway , offer significant opportunities for British firms operating in the transport and infrastructure , and power generation and machinery sectors . Retailers should look east to Asia , a continent full of opportunity for most sectors .
Opportunities vary from sector to sector , but many exportbased British businesses can benefit by expanding their global footprint and building long-term partnerships in both developed and emerging markets .
Industry sector Key Country Opportunities Emerging Country Opportunities
Agriculture Automotive vehicles * Consumer goods and retail
Australia
US , China , Australia , Brazil , UAE , Korea , Saudi , Qatar , India
China
Nigeria , Vietnam Mexico , Vietnam , Iran , Kenya Indonesia , Vietnam
Chemicals ICT / Technology Pharmaceuticals * Power Generation & Machinery * Transport and Infrastructure Aerospace
Australia China , UAE US , China , Brazil , Mexico
US , UAE , Singapore , Mexico Canada , India , Australia Canada
India , Singapore , Thailand
Australia , Canada , India , Malaysia
India , Indonesia , Singapore , Vietnam , UAE
Korea , Japan , Saudi Arabia , Qatar , Thailand
Indonesia , Malaysia , Iran , Thailand , Saudi Arabia , South Africa
Mexico
(* = major export industry )
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