BRITISH CHAMBERS OF COMMERCE INTERNATIONAL TRADE SURVEY 2016
Monday 30 January 09:47
UK companies remain committed to strong trading relationships with
European customers and suppliers.
The British Chambers of Commerce (BCC) surveyed 1,474 business people online in December 2016 to understand how, if at all, their approach to exporting has changed since the EU referendum result.
Over one third (36%) of respondents plan on putting more resources into exporting to the European market over the next five years.
A further 34% said they have no plans to change their approach to selling into Europe, and 4% said they are looking to put fewer resources into selling to the region. Outside of Europe, the next two destinations which respondents are looking to put more resources into are North America and Asia.
The majority of exporters are looking to maintain or increase resources in overseas markets since the EU referendum result
"These results are an important reminder of the fact that it is businesses that trade, not governments. Although the likely outcome of the Brexit negotiations remains unclear, businesses still see Europe as a primary market for both selling and sourcing inputs – even after the UK leaves the EU.
Looking ahead, businesses want the best possible terms of trade following the Brexit negotiations, whatever the ultimate model adopted. UK firms want tariffs, costly non-tariff barriers, and product standards to be at the top of the government’s agenda for a future EU trade deal.
The best news from this survey is that the EU referendum outcome has sparked a greater interest in foreign markets for a significant number of firms. For that very reason, UK companies need sustained, tangible and practical export support that helps them get their goods and services out to the world.”
Dr Adam Marshall - Director General, British Chambers of Commerce