Ipsos in SiMa Ipsos | Curiosity February 2017 | Page 24

BEYOND BREXIT : Opportunities and challenges building British trade outside of the EU provides detail on key potential prospects and pitfalls market-by-market . Knowledge is the most powerful tool for exploiting opportunities and overcoming challenges .
This is perhaps most clear with Iran , which is a frontier market for most British firms as they have no experience trading with , or doing business in , the country .
Beyond Brexit Opportunities and challenges in building British trade outside of the EU
Region
Country
Ease of Doing Business
Opportunities
Challenges
The Americas
US
2017 Ranking

8 th

2017 DTF Score

82.45
The US , Britain ’ s no . 1 trading partner , expects to complete the Transatlantic Trade and Investment Partnership ( TTIP ) with the EU . The UK can benefit from a similar deal harmonising regulation and potentially eliminating restrictive EU trade tariffs .
A highly developed market offering high levels of transparency and a well-regulated business environment .
Key opportunities for British powerhouses : machinery , healthcare and automotive . Less developed sectors warrant further investigation .
A quagmire of highly complex and diverse regulations and tax laws at federal , state and local levels .
It is not a single market from a sales and marketing perspective . Vast differences exist between regions and states . Go-to-market models need tailoring to such nuances .
Highly competitive — benchmarking and learning from past successes and failures is key for incumbents and newcomers alike .
Canada
2017 Ranking

22 nd

2017 DTF Score

78.57
Strong historical ties with the UK are bolstered by a clearly stated commitment to formalising a bilateral trade agreement after Brexit .
A highly developed market with high levels of transparency and a well-regulated business environment .
Recognised as the advanced country with the greatest potential for developing trade with Britain .
Companies need to be well versed in both criminal and civil law in Canada . Along with taxation , these vary on federal , provincial and territorial levels .
Businesses need to be aware of supply-chain implications from operating in the world ’ s second largest country by area , which is home to a relatively small population . Goods have to travel long distances and preferences vary greatly by region .
Brazil
2017 Ranking

123 rd

2017 DTF Score

56.53

Latin America ’ s largest economy offers long-term opportunities for a diverse range of British businesses willing to play a longer game .
Crackdowns on corporate corruption are gaining pace , painting an optimistic future for a more transparent pro-business environment in Brazil .
Consumers are downsizing , as seen in the increased use of generic medicines . Many retail sectors are underdeveloped presenting key opportunities for UK businesses .
Brazil ’ s recent recession , its longest for many years , was exacerbated by an overreliance on commodities . Full recovery will take time making the market inappropriate for companies with a short investment horizon .
Red tape and cumbersome regulations , including strict import duties , are ubiquitous and differ from state to state making the operating environment complex .
Declining consumer confidence is putting an even greater onus on the need for corporate integrity , transparency and trustworthiness .
Ipsos Business Consulting Creating Opportunity | 12