A significant number of UK businesses that trade internationally expect to see an increase in their exports over the coming year, according to an Institute of Directors (IoD) survey.
The survey showed that 42% of UK international traders expect export growth over the next 12 months. It also revealed that 47% of businesses are still finding Brexit challenging, and just 33% envisage opportunities materialising as a result of Brexit.
Additionally, 28% of firms reported that supply chain disruption has had a negative impact on their business, and 12% have an exportable product but are not currently exporting.
Emma Rowland, Policy Adviser for Trade at the IoD, said:
‘There is no doubt that smaller businesses in particular are finding the current international trading environment challenging. Importers and exporters feel especially constricted by the UK’s new trading relationship with the EU.
‘It is therefore encouraging that, in spite of these barriers, businesses are anticipating an increase in exports over the coming months. There are opportunities that give traders reason to be optimistic.’
Internet link: IoD website