Why the UK must boost trade worldwide for post-Brexit success

A new survey from the Institute of Directors today (April 10) has revealed that the EU has seen stronger growth as a market for UK exporters, opposed to Asia and North America, in the past two years.

43 per cent of directors surveyed reported seeing most growth for their business in the EU over the time period, while less than half that figure (21 per cent) pointed to North America, with the same proportion also citing Asia.

Though business leaders saw potential in these two areas in the next five years, the European Union remains the region with the highest expectations for growth.

The poll of almost 800 directors found that 64 per cent are engaged in outbound trade, supposedly up seven per cent points since 2013, and significantly outstripping the national average.

Allie Renison, head of Europe and trade policy at the Institute of Directors, said: “Trade is clearly on the up - a remarkable 64 per cent of IoD members are now active in overseas markets.

“But there is no room for complacency - the immediate focus should be on reaching a successful deal with the EU that puts maintaining market access at the heart of its priorities.”

For those that did not trade internationally, the EU would be the first port of call for potential exporters.

A quarter of those that sell internationally said Brexit would be a catalyst for stepping up non-EU market engagement, while around a third said it was not a factor but that they were already in the process of stepping up such engagement.

Business leaders said the best government facilitator for trade is agreements, reducing tariff and non-tariff barriers with other countries.

Allie added: “The importance of the EU as a growth market for IoD members combined with the clear advantage that business leaders see in new trade agreements shows just how eager businesses are to embrace global Britain.

“Our members are already showing the strength of British business on the world stage, but the statistics also show that we need to get real about trade, and fast.

“Going global is as much about opportunities in Europe as it is further afield, and this should be reflected in how the government shapes post-Brexit Britain.”